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Unpopular opinion: The 30% credit rule is a trap for most people.
My score was stuck at 680 for over a year, even though I paid everything on time. I was using about 45% of my limit on one card. Last month, I paid it down so I was only using 10% and my score jumped to 720 in the next update. It wasn't about paying in full, it was just the balance on the statement date. Has anyone else seen a big jump just from lowering their reported balance?
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eric_murphy362d ago
Had the same thing happen with my oldest card. Dropped the reported balance and saw a 35 point bump almost overnight.
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nathan8512d ago
Man, that's wild but it makes total sense. It's like those hidden rules they never really tell you about. I see it all the time with stuff like cell phone plans or gym memberships, where the fine print changes everything. You follow the basic advice but miss the one trick that actually moves the needle. What other money rules do they explain badly?
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