IMFinancials

👆Credit Tip👆 if you have no open revolving credit (credit cards) and are looking to build your score - open TWO secured credit cards at the same time. Opening the cards at the same time will help with your credit age as the accounts will age together👏 Keep in mind that 30% of your credit score comes from credit cards (your utilization) so they are ESSENTIAL if you want to build a healthy credit score.
Card utilization refers to the amount of credit that you utilize each month (the balance). From a scoring standpoint, you want to use between 1-10% of your credit allowance each month. That is- if you have a credit card with a $500 limit, put a balance of $5-$50 on it each month, and pay it off once it reflects on your statement. 😄