the 30% credit utilisation rule, how strict?

paul332

Hi,

I am trying to improve my credit score, as soon I will be applying for some loans for home improvement.

- On credit card A I have a utilisation of 90% (went beyond limit by mistake last month, paid it back and am now just below the limit).

- On credit card B (which has lower rate and higher limit) I have a utilisation of 10%.

I am thinking of making a partial balance transfer from card A to B so that my utilisation of card A drops to 50%, this will bring my card B utilisation to 30%.

Is this likely to improve my credit rate or is it not going to affect it at all?

I appreciate your advice.

Thanks

Paul

[Deleted User]

I wouldn't worry about, if your average ratios are ok. I certainly wouldn't pay a BT fee to do it.

JKSandy

Pay off one of the cards so you are not utilising several lines of credit.

The_Boss

In addition to the above you don't have a credit score so ignore the ones Experian and Equifax sell.

bsms1147