Sharing Daily Discoveries About Personal Finance And Business Topics

Using Credit To Increase Credit Scores

This was kind of an interesting point about credit scores. I was reading that if you have more than one credit card, as a lot of people usually have at least two different types, using both will help you to increase your score as opposed to leaving one unused. Reason being was that using one will result in data being entered for you in terms of how well you are making payments.

So essentially, from what I gather it’s kind of like if you were going to spend $1000 then spending at least $1 on the second credit card and then paying it off in time makes all of that credit as a factor to your credits score. Kind of an interesting thought I guess as I am usually a one credit card person myself where even if I had two I would only use the second due to circumstances such as the vendor only allowing specific credit cards.




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