5 Ways to Lower Your Credit Utilization Ratio

5 Ways to Lower Your Credit Utilization Ratio © Clix Capital Services Pvt. Ltd. All rights reserved.

What is credit utilization?

It is not a score that will give you a friendly credit score. You will have to decrease the credit utilization ratio, as the ideal one is always below 30%. The ideal credit utilization percentage is 30%, and that gives you a good Experian credit score. It is an important factor that the loan providers will check and, based on this factor, the credit score is determined. You must work on this to show financial stability and credit health. You can do a credit score check for free online. © Clix Capital Services Pvt. Ltd. All rights reserved.

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Strategies to lower credit utilization ratio Automate your payments: Payments need to be made on time. You can not afford to delay the payment. If you do, you will have high credit utilization. If at all you are not paying your bills on time and the credit limit will be exhausted.

Automate your payments, as that is a good option for people that lose track of bills and due dates.

When you automate your payment, the credit is automatically debited with the amount that you are supposed to pay.

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A credit score decides whether you get credit or not If you have a high credit utilization ratio and you feel that you need a good credit score, improve it. The credit score comes with a balanced and low credit utilization ratio. What you can do is pay more than the payment. If you have used up a good amount of credit, pay more than the minimum balance so that you free up the credit availability. This will help you with a balanced credit utilization ratio without any hurdles. It is easy and will surely help you work out things in a better way to get a good credit score.

© Clix Capital Services Pvt. Ltd. All rights reserved.

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Keep your cards open For a credit score check free online, you need to visit the Clix Capital website. You will get the Experian credit score for free within a few seconds. It is one of the best habits to keep yourself updated about your credit behavior and activities.

© Clix Capital Services Pvt. Ltd. All rights reserved.

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