Credit card usage for building credit history and improving credit score

MEM62

almanak said:

Deleted_User said:

If you have a look at the 'What your credit score really means' thread, you'll get the gist.

In a nutshell, because it's made up by the CRA, doesn't reflect risk and isn't seen or used by lenders, it can disregarded.

Your common sense is correct - so follow that instead of the score. Your percentage of usage matters if you can't clear it. If you pay in full, you show lenders that affordability and reliance on credit isn't an issue.

If you limit your usage because if an incorrect concern for your score, you show lenders that you'll cost them too much to service, as they'll earn so little from your transactions.

Choose between impressing a CRA or impressing lenders. But only one group will lend you money.  

But I do not have any proof it works this way and there are a lot of absurdities around us.

Really?  You have been given sound advice by a very respected contributor to these forums - @Deleted_User.  And asking for proof that something is meaningless is a nonsense.  If anything, something should be considered meaningless unless it is proved that it carries some weight.  If you really need further convincing the most basic of research will tell you all you need to know.  

born_again

The fact that Experian offer a Credit Boost for nothing just proves that it is a meaningless figure made up to make people feel good/bad.
End of the day, a lender looks at your credit history (missed payments) income to expenditure ratio & their own credit risk at that point.
If they are wanting to take on more customers, they will often take on high risk just to boost the customer base.

[Deleted User]

born_again said:

The fact that Experian offer a Credit Boost for nothing just proves that it is a meaningless figure made up to make people feel good/bad.
End of the day, a lender looks at your credit history (missed payments) income to expenditure ratio & their own credit risk at that point.
If they are wanting to take on more customers, they will often take on high risk just to boost the customer base.

Ah the boost is not for nothing, it's in return for giving them access to your bank account so they can shill even more guff to you. Boost a fictitious number by giving a third party access to your financial data, hmm...

almanak

Deleted_User said:

born_again said:

The fact that Experian offer a Credit Boost for nothing just proves that it is a meaningless figure made up to make people feel good/bad.
End of the day, a lender looks at your credit history (missed payments) income to expenditure ratio & their own credit risk at that point.
If they are wanting to take on more customers, they will often take on high risk just to boost the customer base.

Ah the boost is not for nothing, it's in return for giving them access to your bank account so they can shill even more guff to you. Boost a fictitious number by giving a third party access to your financial data, hmm...

I would never use a boost as it is a nonsense indeed, especially giving access to your bank account.The question was about the utilization and I still find info that up to 30 percent is the safe one, no matter if you pay in full each month or not.And that doesnt sound as a nonsense to me and apparently worked for many.