How Does Your Credit Card Usage Affect Your Credit Score?

A: Call or lookup online using smart phone or computer to find out how much credit you have available. Every single card you have is separate. You do not add the cards up and their percentages.

A: Credit Bureaus reach out or grab your score after every 28 days. They report back to the 3 credit bureaus with how much credit you are using and what your balance is.

A: You do not add up the cards and figure out what 40% is. All cards are individual.

A: Car and mortgage loans do not count in the 40%. The bank that holds your loan reports to the credit bureaus every 30 days to let them know you have made your payment as agreed. If you have not made the payment you will receive a ding on your credit report.

A: What do I mean by this question? Any loan from a bank does count! Your credit report is being reported to all bank institutions. Yes, If there is a loan from a respectable bank or respectable institution it will be reported and be counted on your credit report.

A: The reason why you are having to co sign is because the applicant has no credit. Everything you co sign will go on your credit.

A: You have established credit but you have not utilized It so it does not hurt you or help you. It is just going to report to the credit bureaus as zero (0).

A: If you pay off your credit card every month the credit bureau will report that you made your payment and you are satisfactory. However it is going to report back every 25 to 30 days where you are with your credit at that moment. Meaning how much credit you have used, your credit limit and your mortgage at that point. If you are at 60%, 70%, 80% or higher it will only hurt your credit score. Find the date that your credit card reports to the bureaus and whatever date that is try to get the balance down to 20%. That will make your credit score skyrocket!