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- How to maximize your rewards
- Uneven splits
- Cheapest car insurance after a DUI
- Security
- Travel credits
- Space out credit applications
- 11. Business credit cards
- Resident status rules
- Take advantage of promotions with travel partners
- 6. Future plans
- 8. Use a do-over
- Watch the calendar
- Two-day ticket deals
- 3. Look for equipment rebates and tax credits
- 2. Look into tax-loss harvesting
- Excursions
- Fleet expense management tools
- Set a price alert
- Chubb: Best for high-value homes
- 1. Automate transfers
- Act quickly
- 6. Capital One Rewards
- What is the procedure for filing a claim?
- 8. Shared accessories and attire
- Follow federal requirements
- Kitty Fund Mompreneur Business Grant
- 1099-DIV
- How it works
- Low PE ratio
- InboxDollars Surveys
- 4. Debit card
- 6. You can add different types of authorized users
- Methodology
- 14. Make products for pets
- Discounts
- You typically borrow a car from someone in your household
- Monitor your credit reports
- Seat selection
- Best for
- Set cash aside
- 13. PR agency
- 2. 'I’ll buy back in next week when it’s lower.'
- Dividend per share (DPS)
- Our pick for: Fixed monthly payments
- 15. Saver’s credit
- Rebook if you find a cheaper price
- How to have more taxes taken out of your paycheck
- 6. Sell your wares on Etsy
- Customer support
- How quickly could the IRS implement the child tax credit expansion?
- Military Entrepreneur Challenge
- DoubleTree by Hilton Phuket Banthai Resort, Phuket, Thailand
- Free online tax filing software compared
- Wash sale rules
- Cheapest auto insurance in Florida for 20-year-olds with one at-fault crash
- Invest in your financial future
- Cigna Medicare Part D
- 3. Hold the shares inside an IRA, a 401(k) or other tax-advantaged account
- Travel costs
- AndroMoney
- 15. Create custom clothing
- Our pick for: Cell phone and internet bill payments
- You regularly borrow the same car from someone you don’t live with
- Winner for loyalty program: Delta SkyMiles
- Be polite
- Potential drawback
- Our pick for: Flat-rate travel rewards
- 1099-G
- Car insurance from specialty agencies
- Dividend yield
- Home equity loan
- Arrival
- Google Opinion Rewards
- Appendix: How the math works in our examples
- 16. Health savings account contributions deduction
- Step 5: Register the business
- 6. OfferUp
- Earning rates
- 2. Count your coins and bills
- Virginia Housing Plus Second Mortgage
- Apply for PSLF forgiveness
- 7. Citi ThankYou Points
- Part-year resident status rules
- 1. Be concise
- 401(k) hardship withdrawals
- Can you pay estimated taxes at any time?
- Elite status
- Where to get it
- Consider using a retirement account
- 14. Professional organizing
- 3. 'I’m bored of this stock, so I’m selling.'
- Three-day ticket deals
- Pay every credit card bill on time (and ideally in full, too)
- What can United travel funds be used for?
- How to have less taxes taken out of your paycheck
- You drive rarely or not at all
- User experience
- 1099-INT
- American Family
- Selling to Opendoor
- Cost basis calculations
- 4. Call in a pro
- 17. Self-employment expenses deduction
- 5. Enter a debt management plan
- Benefits
- 16. Sell vintage clothing online
- Be flexible with destination, airport and dates
- Cheapest auto insurance for poor credit
- Tax-efficient strategies
- 9. Shared home improvement equipment
- Waldorf Astoria Maldives Ithaafushi
- 15. Photography
- Swagbucks
- When to choose a debt consolidation loan
- 1Money
- Can I use more than one certificate at a time?
- 7. Self-publish an e-book
- How does RVshare insurance work?
- Reviews
- Consider Disney World family vacation packages
- Upgradeability
- 3. Prep for grocery shopping
- Allianz Global Assistance
- Past years' state tax rates
- What happens if I forget to pay my quarterly taxes?
- Ohio Small Business Development Centers (SBDC)
- Allstate vs. State Farm home insurance
- Cheapest auto insurance in Florida for 20-year-olds after a DUI
- Apple Card
- Home equity line of credit
- Get closer to elite status
- Corporate bonds
- 18. Home office deduction
- Look for deals
- Drawbacks
- 17. Begin niche blogging
- How to use a W-4 to owe nothing on a tax return
- How do you get a perfect credit score?
- 8. Bank of America® rewards
- Nonresident status rules
- 2. Use bullet points
- 1099-K
- Listing with Opendoor
- Dividend payout ratio
- Our pick for: An upgrade path
- Try not to use too much of your credit limit
- When to choose a balance transfer credit card
- J.D. Power Ranking
- Airport lounge access
- Best for
- Bonzah
- SCORE
- Allstate vs. Geico home insurance
- 16. Event space
- 19. Educator expenses deduction
- 7. Poshmark
- Country Financial: Best for using an agent
- FHA
- How can I make paying quarterly taxes easier?
- How it works
- Soft vs. hard credit inquiry
- Save
- Credit cards
- 5. Credit card
- Wildfires
- 18. Become an e-book writer
- Hurricanes and tropical storms
- Potential drawback
- Rental Cover
- 10. Vacation rentals
- 3. Speak to your audience
- Home equity loans and lines of credit
- Minority Business Assistance Centers
- Pros
- 17. Interior decorating
- Cash-out refinance
- Keep credit card accounts open for a long time
- 20. Solar tax credit
- NCQA Score Range: 2.0 to 3.5 out of 5
- 8. Get advertising revenue from your blog or YouTube channel
- Why we love RVshare
- 1099-LTC
- Auto Club Group
- Hotel status
- 4. Minimize restaurant spending
- Sure
- Cons
- Our pick for: Customizable bonus categories
- Allstate vs. Farmers home insurance
- 18. Woodworking or furniture building
- 21. Energy efficient home improvement tax credit
- Loyalty programs
- Cryptocurrency pros
- 19. Start ghostwriting
- 1. Decide what type of investor you are.
- More from NerdWallet
- 11. Electronics repair
- Confirm the grant is available
- Canopy by Hilton Cape Town Longkloof, Cape Town, South Africa
- 1099-MISC
- No-credit-check loan example
- Cheapest full coverage car insurance in Florida for 30-year-olds
- Invest
- Earthquakes
- Step 6: Find and maintain clients
- 2020-2022 earned income credit amounts
- Winner for credit card availability: Delta Air Lines
- 4. Play to your strengths
- Where to get it
- Personal loan
- Winter weather
- Our pick for: No security deposit, low annual fee
- 22. Electric vehicle tax credit
- 20. Become a resume writer
- Lean FIRE
- Tornadoes
- Transfer partners
- USDA (Rural Housing Service)
- Be aware of key dates
- 19. Graphic design
- Gifting large sums of money to family
- Cryptocurrency cons
- Flooding
- Cheapest car insurance for young drivers
- 5. Get discounts on entertainment
- California earned income tax credit (CalEITC)
- 5. Get a test reader
- 1099-NEC
- Venmo Credit Card
- Tornadoes
- 21. Open a coworking space
- Our pick for: Maximized value
- 9. Become an Instagram influencer
- Review eligibility requirements
- 20. Clothing boutique
- Pay off debt
- How to compare life insurance quotes
- 1. Has the W-4 form changed?
- Fat FIRE
- Winter storms
- California young child tax credit (YCTC)
- Cash advance apps
- Auto-Owners
- Cheapest minimum coverage car insurance in Florida for 30-year-olds
- Paying for vacations, cars or other stuff
- Flooding
- 6. Map out major purchases
- 12. Academics courses
- 1099-OID
- 21. Bed and breakfast
- Life insurance quotes vs. rates
- 6. Mobile via IRS2Go
- 22. Become an online coach
- Reasons to take pause before renting from RVshare
- Barista FIRE
- Card ecosystem
- California child and dependent care tax credit
- Consider funding alternatives
- Laid-back loans
- 2. What does it mean to be exempt from taxes?
- 2. Choose how much you want to invest.
- How much are car insurance quotes?
- NJM: Best small regional insurer
- 1099-PATR
- How it works
- 22. Food truck
- Repeat
- Our pick for: No security deposit, low annual fee, potentially high credit limit
- 23. Flip failing websites
- 10. Monetize your Twitch channel
- Fully underwritten life insurance
- California adoption cost tax credit
- Our pick for: Bank of America® customers
- Joint bank accounts
- Step 7: Invest in advertising and expanding
- Cheapest auto insurance for senior drivers
- The value of Southwest Wanna Get Away (and Plus) vs. Anytime fares
- 7. Restrict online shopping
- 13. Language courses
- 1099-Q
- S&P 500 PE ratio
- Cheapest auto insurance in Florida for 30-year-olds with poor credit
- Spring storms and hail
- Above-the-line deductions
- 24. Become a web developer
- 3. Gather your paperwork.
- Winner for business class: Delta Air Lines
- California nonrefundable renters tax credit
- Where to get it
- 23. Restaurant or cafe
- Buy now, pay later
- 1099-R
- Farmers
- 25. Start a podcast
- 3. When should I review my W-4?
- Simplified issue life insurance
- 24. Craft brewery
- Below-the-line deductions
- Which factors determine car insurance quotes?
- 8. Delay purchases with the 30-day rule
- 1099-S
- Shiller PE ratio
- Capital One® Walmart Rewards™ Mastercard®
- 26. Be a social media influencer
- 4. Pick your investments.
- 11. Sell your photography
- Credit required
- 14. Business or marketing courses
- Cheapest auto insurance in Florida for 30-year-olds with one speeding ticket
- Our pick for: Average credit and rewards
- 7. Same-day wire transfer
- 4. Can I adjust my W-4 multiple times throughout the year?
- How renting from Cruise America works
- Guaranteed issue life insurance
- The value of Business Select vs. Anytime fares
- How it works
- 25. Ice cream shop
- 9. Get creative with gifts
- 1099-SA
- 27. Create online courses
- Our pick for: Prime gaming
- USAA: Best for military and veterans
- Our pick for: Paying rent
- Where to get it
- 26. Personal chef
- Online loans
- Overseas acceptance
- 15. Personal wellness
- The Hanover
- 28. Become a marketing consultant
- 27. Landscape services
- Cheapest auto insurance in Florida for 30-year-olds with one at-fault crash
- 10. Lower your car costs
- Co-signed or joint loans
- Winner for lowest fees: Spirit
- 28. Pet grooming
- Our pick for: Average credit and no annual fee
- 29. Develop an app
- 12. Become a dog walker with Rover or Wag
- How does Cruise America insurance work?
- 11. Reduce your gas usage
- 16. Courses in hobbies or interests
- How it works
- 29. Florist
- Secured loans
- 8. Check, money order or cashier’s check
- Cheapest auto insurance in Florida for 30-year-olds after a DUI
- 30. Make a smart appliance
- Why we love Cruise America
- Where to get it
- Nationwide
- 30. Massage therapist
- Family loans
- 31. Tap into virtual reality experiences
- 13. Sell unused gift cards
- 12. Bundle cable and internet
- 17. Bookkeeping and accounting
- 1. Look at customer satisfaction scores
- Individual stocks
- Our pick for: Limited credit
- 32. Make a niche dating site
- Roth IRA withdrawal rules
- Reasons to take pause before renting from Cruise America
- Erie: Most generous coverage
- Payment plans
- 2. Consider financial strength
- 13. Switch your cell phone plan
- 31. Nutritionist
- 33. Develop a chatbot
- Our pick for: Target gaming purchases
- Roth IRA withdrawal penalty
- 18. Consulting
- Credit union loans
- Cheapest full coverage car insurance in Florida for 40-year-olds
- 3. Evaluate the policy options
- 14. List your spare bedroom on Airbnb
- State Farm
- 32. Personal trainer or fitness instructor
- 34. Offer matchmaking skills
- Capital Good Fund
- Dividend stocks
- 9. Cash
- 14. Reduce your electric bill
- 4. Get prices from a handful of companies
- 35. Be a virtual assistant
- 33. Beauty services
- Our pick for: Good credit
- Cheapest minimum coverage car insurance in Florida for 40-year-olds
- How renting from Outdoorsy works
- 15. Lower your student loan payments
- 19. IT support
- 34. Life coach
- 36. Reinvent exercising
- Nationwide: Best online experience
- Travelers
- 37. Create eco-friendly, health-friendly makeup and beauty products
- 15. Sell your gently used clothes
- 16. Cancel unnecessary subscriptions
- 20. Graphic design
- 35. Tutor
- Cheapest auto insurance in Florida for 40-year-olds with poor credit
- 38. Open a food truck or restaurant pop-up
- Our pick for: Travel
- 17. Refinance your mortgage
- 36. Daycare provider
- 39. Start an organization business
- How does Outdoorsy insurance work?
- 10. IRS payment plan or installment agreement
- Our pick for: Walmart gaming purchases
- 40. Do interior design for young professionals
- 16. Trade in old phones, electronics for cash
- 18. Set savings goals
- 21. Social media management
- 37. Senior care provider
- Cheapest auto insurance in Florida for 40-year-olds with one speeding ticket
- How to compare renters insurance
- Reasons to love Outdoorsy
- Openly: Fewest consumer complaints
- 38. Interpreter or translator
- Our pick for: Instant gratification
- 39. Housecleaning
- 17. Get a babysitting gig
- Reasons to take pause before renting from Outdoorsy
- 19. Track spending
- 22. Marketing copywriter
- Cheapest auto insurance in Florida for 40-year-olds with one at-fault crash
- 40. Automotive repair
- 20. Pay off high-interest debt
- 23. Virtual assistant services
- 41. Handyman services
- Our pick for: PlayStation purchases
- 18. Rent out your car
- Cheapest auto insurance in Florida for 40-year-olds after a DUI
- 21. Keep savings in a high-yield savings account
- You have a roommate
- Our pick for: Personalized rewards
- 42. Dry cleaners
- State Farm: Best perks
- 22. Create a 50/30/20 budget
- 43. Hardware store
- 1. Do your research
- You’re on a tight budget
- 19. Sign up for TaskRabbit
- 44. Self-storage business
- 2. Get organized and make it official
- Cheapest full coverage car insurance in Florida for 50-year-olds
- You would want new items if your belongings were destroyed
- 45. Freelance copywriting and content creation
- 23. Shop consignment and thrift stores
- 46. Rideshare driver
- 20. Become a private tutor
- 3. Find the right financing
- You own expensive jewelry or electronics
- 47. Website development and design
- Cheapest minimum coverage car insurance in Florida for 50-year-olds
- 48. Sell clothes online
- Our pick for: Best Buy purchases
- You’re a first-time home buyer
- 24. Join initiatives to get free items
- You have a dog
- 21. Drive for Uber, Lyft
- 49. SEO consultant
- Cheapest auto insurance in Florida for 50-year-olds with poor credit
- 50. App development
- You live in a high-risk area
- 25. Use car sharing services
- 22. Make deliveries for Amazon, Uber Eats
- Cheapest auto insurance in Florida for 50-year-olds with one speeding ticket
- You have a dog
- 26. Stock up on household supplies when they’re cheap
- 23. Find work as a housesitter
- You own valuable items
- 27. Enjoy community events
- Cheapest auto insurance in Florida for 50-year-olds with one at-fault crash
- Our pick for: Digital Microsoft Store purchases
- 24. Sign up to be a mystery shopper
- You own an older home
- 28. Cash in on your birthday
- Cheapest auto insurance in Florida for 50-year-olds after a DUI
- 25. Put your drone to work
- Cheapest full coverage car insurance in Florida for 60-year-olds
- Cheapest minimum coverage car insurance in Florida for 60-year-olds
- Cheapest auto insurance in Florida for 60-year-olds with poor credit
- Cheapest auto insurance in Florida for 60-year-olds with one speeding ticket
- Cheapest auto insurance in Florida for 60-year-olds with one at-fault crash
- Cheapest auto insurance in Florida for 60-year-olds after a DUI
- Cheapest full coverage car insurance in Florida for 70-year-olds
- Cheapest minimum coverage car insurance in Florida for 70-year-olds
- Cheapest auto insurance in Florida for 70-year-olds with poor credit
- Cheapest auto insurance in Florida for 70-year-olds with one speeding ticket
- Cheapest auto insurance in Florida for 70-year-olds with one at-fault crash
- Cheapest auto insurance in Florida for 70-year-olds after a DUI
Your credit utilization is simply the portion of your available credit you use, expressed as a percentage. It is the total of balances on all your credit cards divided by the total of all your credit limits. (It's also figured on a per-card basis.) This number is a big factor in your credit score — the less available credit you use, the better it is for your score.
Here’s how to keep your utilization low.
Why is having a low credit utilization important?
Paying your balances on time and in full every month is the best way to keep your score intact or build it. On the other hand, using a larger portion of your credit limit could do damage. Credit utilization accounts for around 20% to 30% of your credit scores.
But if a financial crisis means you have to lean on credit cards, take heart: Credit scores can rebound quickly once you're able to lower your utilization.
How to lower your credit utilization
1. Keep your charges on each card to a minimum
The simplest way to avoid losing credit score points for using too much of your limits is to watch how much you charge to each card. Make a habit of patrolling your online accounts to keep tabs on spending. If you are close to using 30% of your credit limit on one card, try to make a payment or switch to using another card.
Simply getting into the habit of paying twice per month instead of once could help you decrease your credit usage. Lower balances can save you interest if you carry a balance — and are good for your credit score regardless.
You can also monitor your per-card and overall credit utilization by viewing your credit score profile from NerdWallet.
2. Ask for higher credit limits
If it’s tough for you to avoid utilizing more than 30% of your available credit, another solution might be to request a credit line increase on your card or cards. Getting a credit limit increase might require you to call your card issuer or make the request online. Sometimes increases are offered automatically if you’ve had your card for a while and have a positive payment history, so be on the lookout for those offers when you log in to your account.
Another option to get a higher overall credit limit is to ask a friend or relative to add you as an authorized user on an established account. The primary user doesn't even have to give you a card or tell you the account number for your credit score to benefit. Do choose carefully: Being on the account of someone who is having problems with credit could affect your score, too. You want to be on an account showing good payment history, preferably with a high credit limit and consistently low credit utilization.
A higher overall credit limit could help you keep your credit utilization lower than it would be otherwise. This could make a big difference in your credit score. You can check your own credit to see the effect (and it won't hurt your score).
3. Set up balance alerts to stay on top of spending
If you find yourself consistently overspending, setting up balance alerts can help keep your spending in check.
Sign up with your credit card issuer to receive alerts via text message or email. You can choose to be alerted when the balance reaches a certain amount or percentage of your credit limit. Your goal is to keep the balance below 30%.
4. Pay your bill before your issuer reports to the credit bureaus
Most credit card issuers report your balance and payment activity to the credit bureaus once every 30 days. However, this doesn’t necessarily coincide nicely with when your bill is due. If your issuer reports a few days before the end of your billing cycle, you’ll consistently look like you’re carrying a high balance — even if you pay it off in full just a few days later.
Place a call to your card issuer’s customer service line to find out when it reports to the credit bureaus. Simply pay off as much of your balance as you can in advance of that date every month, and you might see a jump in your score.
5. Monitor your total credit utilization
If you have multiple credit cards, it might be hard to view the bigger picture of your credit utilization. Using the calculator below, input your credit card balances and limits to check whether you're under the recommended 30% utilization threshold.
If you’re creeping up to that limit, do your best to pay down your balances and explore ways to stop spending money.