You can build a great credit score without paying interest on your credit card purchases. You do not have to carry a credit card balance to build credit; this misunderstanding does significant damage.
Here is the responsible (and less expensive) way to use credit cards:
- Have a budgeted amount that will go on your credit card each month.
- Track your spending to you stay within your card’s budget.
- Do not charge more than 30% of your available credit. Keep your credit balance below 10% if you want to boost your credit score quickly.
- Pay your credit card bill in full every month and always by the due date and time.
Stick with this plan and you will be on your way to an excellent credit score. Remember to pay all of your bills, including your credit cards on time!
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