this post was submitted on 20 Aug 2023
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I assume this is US only thing? I don't work and I have a credit card. Using it makes my credit score go up.
In Germany taking out a small loan even tho you don't need it can help massively boost your credit score.
That only works because here no credit history is worse than a bad credit history.
It’s more the case that if you use more than 20% it is seen as negative. 0-10% is excellent, 10-20% is good, and it gets worse from there. Every year I request a credit increase despite my spending staying the same simply because it makes my utilization go down. But it’s dumb. I don’t need the extra credit. I’ll never use it. But have to have it to max my score.