Earn Your Leisure

In this episode, credit expert Shonda Martin breaks down the intricacies of credit card utilization and how it impacts your credit score. Shonda delivers valuable insights on how to strategically use credit cards to build and maintain a healthy credit profile.Shonda starts by dispelling the common misconception that credit card utilization depends on usage, emphasizing that it is determined by the balance carried over to the statement date, not the total usage. She highlights the significance of identifying your statement date, which is pivotal in ensuring that your credit utilization is reported correctly to the credit bureaus.Moreover, Shonda outlines the essential steps for building a strong credit profile, emphasizing the importance of maintaining a low credit card utilization, acquiring at least two credit cards, and strategically managing short-term and long-term installments. She provides a comprehensive strategy for achieving a favorable credit score, shedding light on the significance of account dive