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- Our pick for: Beginner-friendly features
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- Step 6: Explore ways to make or borrow money
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- How to use British Airways Avios for a flight to Hawaii
- Manufactured home mortgages
- 5. Money market funds
- Benefits unique to the IHG One Rewards Premier Credit Card
- 4. Borrow from your 401(k)
- Mini CD ladder
- Use points toward online purchases elsewhere
- 1. Get a grasp on your new budget
- 2. Time it right
- Government-backed loans
- 10. Crowdfunding
- 11. Software and app development
- Know the key Membership Rewards transfer partners
- Type of business
- 7. Hardship withdrawals
- 5. Watch for sales (They happen frequently)
- How to maximize your rewards
- 10. Selling course notes
- 14. 401(k) contributions deduction
- CarGurus
- Down payments and gift funds
- 1. Choose a name for your PLLC
- How we verified our data
- 2017 credit card bonus categories
- Delta Air Lines
- Online business loans
- Patriot America Plus
- Make 10 years' worth of payments
- Moving averages
- Government bonds
- Can I transfer Apple Daily Cash money to my bank account?
- Debt settlement
- Example 3: Early-stage message
- Step 7: Examine your health care options
- AARP membership
- Cheapest car insurance after a DUI
- Is the Buffett indicator high or low right now?
- John Hancock
- Capital One SavorOne Cash Rewards Credit Card
- Uneven splits
- Resident status rules
- 8. Use a do-over
- Redeem for gift cards
- Fare flexibility/ticket changes
- 6. Account takeover
- 3. Look for equipment rebates and tax credits
- 1. Avoid filing your tax return on paper
- 11. Business credit cards
- Is the Lifetime Learning Credit refundable?
- 6. Andaz Mayakoba Resort Riviera Maya
- 5. Offer memberships
- 3. Loan processing takes over
- Register for an employer identification number
- 8. Shared accessories and attire
- Down payment assistance programs
- 10. Medical billing service
- 2. Designate a registered agent for your PLLC
- Set a price alert
- Buy and hold
- 8. Redbox+
- 2016 credit card bonus categories
- How long do I need an SR-22 in California?
- The (sorta) good
- 6. Capital One Rewards
- 12. Business coaching
- Property standards
- Legal regulations
- Discounts
- 11. Working as a lifeguard or swim instructor
- 15. Saver’s credit
- 4. Get confirmation
- Citi trifecta
- Card details
- Donate to charity
- Our pick for: Fixed monthly payments
- Dividend per share (DPS)
- 2. Call your issuer
- 3. Sell your castoffs
- 2. Get direct deposit
- 8. Emergency savings
- 6. Sell your wares on Etsy
- No-exam life insurance rates for nonsmokers
- Identify grants that are suited to your business
- Rebook if you find a cheaper price
- Cigna Medicare Part D
- How to use Alaska miles for an American flight to Hawaii
- How quickly could the IRS implement the child tax credit expansion?
- 2015 credit card bonus categories
- Aeroplan
- A few other fee-related details to note
- How to have more taxes taken out of your paycheck
- How do I get a restricted driver’s license in California?
- 7. Criminal identity theft
- Support and resistance
- 13. College consulting
- Credit cards with Delta Sky Club access
- 4. The underwriter makes a decision based on your documentation
- Amica vs. State Farm home insurance
- 6. Respect other passengers' space
- Appendix: How the math works in our examples
- Prudence's policy:
- Our pick for: Cell phone and internet bill payments
- 16. Health savings account contributions deduction
- 11. Nutritionist/dietitian
- FHA appraisal
- 3. Get business licenses for your PLLC
- Blue Cash Preferred® Card from American Express
- 9. College Hunks Hauling Junk
- 5. Kiwi
- 6. High-yield savings accounts
- The details
- Baggage and boarding
- Dividend yield
- Home equity loan
- 3. Stay on top of things
- Individual consumer discretionary stocks
- Phone service
- Apply for a business loan
- 12. Participating in research studies
- Resident status rules
- No-exam life insurance rates for smokers
- 6. OfferUp
- How should investors use the Buffett indicator?
- Cars.com
- Can you pay estimated taxes at any time?
- Manufactured home pros
- 2014 credit card bonus categories
- China Airlines
- An example of selling a call option
- Apply for PSLF forgiveness
- How do I get rid of an SR-22 in California?
- Part-year resident status rules
- Chubb
- Our pick for: Apple enthusiasts
- 3. Agree only to terms you can afford
- 7. Citi ThankYou Points
- 7. Hôtel Du Palais Biarritz
- Scenario: Doctor visits and an MRI
- 17. Self-employment expenses deduction
- Confirm grant details
- 4. File your articles of organization
- Radisson Rewards for Business is available for both programs
- How to have less taxes taken out of your paycheck
- 5. Enter a debt management plan
- 5. Rebalance your investment portfolio as needed
- Selling to Opendoor
- American Family
- 4. Earn badges through Live videos
- Take advantage of all the other statement credits
- Cheapest auto insurance for poor credit
- 9. Shared home improvement equipment
- 12. Alternative health care
- Be flexible with destination, airport and dates
- Capital One Savor Cash Rewards Credit Card*
- 10. Junkluggers
- What is the difference between SR-22 and SR-1P?
- Seat selection
- Recent servicer portfolio transfers
- 4. One more thing to know about your tax refund
- 14. Tutoring
- Amica vs. Geico home insurance
- Franchising pros
- Self-finance your business
- 7. Have a backup plan ready
- 13. Freelancing online
- 7. Self-publish an e-book
- 18. Home office deduction
- What happens if I forget to pay my quarterly taxes?
- Manufactured home cons
- Japan Airlines
- Vanguard 500 Index Fund (VFIAX)
- Home equity line of credit
- Consumer discretionary ETFs
- Corporate bonds
- Where is the best place to exchange currency?
- 5. Your loan is cleared to close
- Methodology
- Prepare and submit applications
- 5. Draft an operating agreement
- 7. CDs
- Bank of America® Customized Cash Rewards credit card
- Safe Travels USA
- How to use a W-4 to owe nothing on a tax return
- Nonresident status rules
- Hiscox
- SAVE benefits available by October 2023
- Listing with Opendoor
- Our pick for: An upgrade path
- Earning rates
- Dividend payout ratio
- 8. Bank of America® rewards
- 15. Online fitness trainer
- Refinancing
- Friends and family
- 19. Educator expenses deduction
- 13. Health information website
- TravelSafe
- Mortgage insurance
- Why Chase Ultimate Rewards® can be the best option
- Singapore Airlines
- Earning Radisson Rewards Americas points with credit cards
- Vanguard Total Stock Market Index Fund (VTSAX)
- Amex EveryDay® Credit Card
- Golden crosses and death crosses
- AM Best Financial Strength Rating: A+ (Superior)
- How do I find a currency exchange near me?
- 14. Cleaning, yardwork and other odd jobs
- Scenario: Trip to the ER
- Part-year resident status rules
- 7. Poshmark
- Edmunds
- How can I make paying quarterly taxes easier?
- 6. Pay PLLC taxes and file annual report
- SAVE benefit starting in February 2024
- Upgradeability
- Soft vs. hard credit inquiry
- 5. Build a community
- Franchising cons
- Pros
- 20. Solar tax credit
- 10. Vacation rentals
- Economic events
- Consider backup funding options
- Property-based passive income ideas
- Vanguard Total Bond Market Index Fund (VBTLX)
- 1. Freeze your credit
- Cash-out refinance
- 1. Become a World of Hyatt member to earn Hyatt points for your stay
- 16. SEO consulting
- J.D. Power Ranking
- Where can you exchange currency for free?
- 8. Get advertising revenue from your blog or YouTube channel
- 14. Medical supply sales
- 6. BookWithMatrix
- State Farm
- SAVE benefits available by July 2024
- Auto Club Group
- 15. Working in retail or food service
- Cons
- 21. Energy efficient home improvement tax credit
- Earnings
- Other details you should know about Crypto.com DeFi Wallet
- Discover it® Cash Back
- Selling a put example
- Using American Express Membership Rewards points
- Capital One Savor Cash Rewards Credit Card*
- Vanguard Balanced Index Fund (VBIAX)
- 2. Safeguard your Social Security number
- 2. Use a Hyatt credit card during your stay to earn even more points
- Purchase tow truck insurance
- Nonresident status rules
- 11. Electronics repair
- 7. Comply with additional state and federal regulations for PLLCs
- 8. Buy a rental property
- How to Start Investing: A Guide for Beginners
- No-credit-check loan example
- 17. Selling handmade goods
- NCQA Score Range: 2.0 to 4.5 out of 5
- Compare car insurance rates for drivers with a DUI
- 1. Decide what type of investor you are.
- Licensing pros
- 22. Electric vehicle tax credit
- 15. Stylish uniforms for medical professionals
- Best Robo-Advisors
- Vanguard Growth Index Fund (VIGAX)
- American Express® Green Card
- Our pick for: No security deposit, low annual fee
- 3. Be alert to phishing and spoofing
- Personal loan
- 10. Pick a reliable POS system
- Using Citi ThankYou Points
- Best Online Stock Brokers for Beginners
- The details
- Next
- Testing a resistance level
- Gifting large sums of money to family
- Cheapest car insurance for young drivers
- 16. Hearing aid dispensary
- Used Car Search Pro by iSeeCars
- Is Crypto.com DeFi Wallet right for you?
- Home purchase: Basic Home Mortgage 203(b)
- Discover it® Chrome
- 9. Rent out your own house
- How Asset Allocation Impacts Your Portfolio
- CoverAmerica-Gold
- Vanguard Small Cap Index Fund (VSMAX)
- California earned income tax credit (CalEITC)
- 4. Use strong passwords and add an authentication step
- 18. Virtual thrift shop
- Conventional loans
- Licensing cons
- Our pick for: Maximized value
- 9. Become an Instagram influencer
- What Is Socially Responsible Investing and How to Get Started
- Rank for local SEO
- 17. Respite care service for caregivers
- Seven Corners
- FHA refinance loans
- 1. Has the W-4 form changed?
- Vanguard Total International Stock Index Fund (VTIAX)
- California young child tax credit (YCTC)
- 5. Use alerts
- Auto-Owners
- Paying for vacations, cars or other stuff
- 12. Academics courses
- How we review crypto wallets
- 10. Get a roommate
- The Hartford
- Our pick for: Everyday spenders
- For credit scores of 690 or higher
- 19. Affiliate marketing
- FHA loans
- 18. Medical marijuana dispensary
- Ink Business Unlimited® Credit Card
- California child and dependent care tax credit
- American Express® Gold Card
- 6. Watch your mailbox
- Laid-back loans
- Alternative investment passive income ideas
- 2. What does it mean to be exempt from taxes?
- Our pick for: No security deposit, low annual fee, potentially high credit limit
- 20. Accounting or bookkeeping
- 2. Choose how much you want to invest.
- Become a AAA contractor
- 10. Monetize your Twitch channel
- FHA renovation loans
- Fully underwritten life insurance
- California adoption cost tax credit
- 7. Shred, shred, shred
- Joint bank accounts
- Cheapest auto insurance for senior drivers
- NYC tax rate schedule
- Above-the-line deductions
- 13. Language courses
- How do I start a health care business?
- TrueCar
- Ink Business Cash® Credit Card
- Capital One Quicksilver Cash Rewards Credit Card
- Pets Best vs. Trupanion
- Progressive
- Spot vs. Pumpkin pet insurance
- For any credit score
- Other specialty FHA loans
- 11. Peer-to-peer lending
- California nonrefundable renters tax credit
- 8. Use a digital wallet
- 21. Telemarketing
- Use the Global Entry or TSA PreCheck fee credit
- 3. Gather your paperwork.
- Hire more employees
- How do I start a home health care business?
- Farmers
- Below-the-line deductions
- Deserve® Pro Mastercard
- Simplified issue life insurance
- 3. When should I review my W-4?
- The Platinum Card® from American Express
- 9. Protect your mobile devices
- 22. Online personal assistant
- How do I write a business plan in health care?
- Spot vs. Healthy Paws
- 11. Sell your photography
- 14. Business or marketing courses
- Tin Leg
- 12. Private equity
- The details
- Our pick for: Average credit and rewards
- 10. Check your credit reports regularly
- 23. Data entry
- Compare auto insurance rates for drivers with poor credit
- 4. Pick your investments.
- Guaranteed issue life insurance
- Pets Best vs. Healthy Paws
- 4. Can I adjust my W-4 multiple times throughout the year?
- 11. Monitor financial and medical statements
- 24. Transcription
- Our pick for: Prime gaming
- Online loans
- 15. Personal wellness
- American Express® Business Gold Card
- The Hanover
- 25. Travel planning
- Book travel to get 5X Membership Rewards points on airfare and hotels
- 13. Crypto staking
- Pets Best vs. Lemonade
- Our pick for: Rewards maximizers
- Co-signed or joint loans
- Apple Cash: digital card
- Our pick for: Average credit and no annual fee
- 26. Cybersecurity and IT consulting
- 12. Become a dog walker with Rover or Wag
- 16. Courses in hobbies or interests
- Secured loans
- 1. Lost wallet
- World Nomads
- Benefits of FHA loans
- Cash App debit card
- Product creation passive income ideas
- The Business Platinum Card® from American Express
- Nationwide
- 27. Online therapy
- Disadvantages of FHA loans
- Family loans
- 2. Mailbox theft
- 13. Sell unused gift cards
- 17. Bookkeeping and accounting
- 1. Look at customer satisfaction scores
- 28. PR consulting
- 14. Write content
- Our pick for: Limited credit
- Individual stocks
- Book with the Fine Hotels + Resorts program
- 2. Consider financial strength
- Payment plans
- 3. Using public Wi-Fi
- Roth IRA withdrawal rules
- 29. Podcasting
- Our pick for: Target gaming purchases
- 18. Consulting
- 3. Evaluate the policy options
- Credit union loans
- Roth IRA withdrawal penalty
- 14. List your spare bedroom on Airbnb
- 4. Data breaches
- State Farm
- Compare insurance rates for drivers with an accident
- Capital Good Fund
- 30. Life coaching
- Dividend stocks
- 4. Get prices from a handful of companies
- 15. Publish a digital course
- Our pick for: Good credit
- 5. SIM card swap
- Our pick for: Foodies
- 31. Video production
- 19. IT support
- Car-related passive income ideas
- 6. Phishing or spoofing
- 32. Resume writing and career coaching
- Visit the Global Lounge Collection
- Travelers
- 15. Sell your gently used clothes
- What is a prepaid debit card?
- 20. Graphic design
- 16. Wrap your car with ads
- 7. Skimming
- 33. Dropshipping
- Our pick for: Travel
- What is a prepaid credit card?
- 17. Rent out a parking space
- 8. Phone scams
- Our pick for: Walmart gaming purchases
- 34. Recruiting
- 16. Trade in old phones, electronics for cash
- Where can you get a prepaid card?
- 21. Social media management
- 9. Looking over your shoulder
- How to compare renters insurance
- 35. Marketing consulting
- How do you add money to a prepaid card?
- Our pick for: Instant gratification
- 36. Online fundraising or grant writing
- Leverage the Hilton and Marriott Gold elite status
- Which prepaid card is best?
- 10. Malware
- 17. Get a babysitting gig
- 22. Marketing copywriter
- Our pick for: Frequent travelers
- 37. Online course teaching
- 38. Online cooking instruction
- 23. Virtual assistant services
- 1. Gather your information
- Rent cars with Avis, Hertz and National
- Our pick for: PlayStation purchases
- 18. Rent out your car
- 39. YouTube channel
- Our pick for: Personalized rewards
- You have a roommate
- 40. Voiceover work
- 2. Choose the right liability car insurance coverage levels
- 1. Do your research
- You’re on a tight budget
- 19. Sign up for TaskRabbit
- 41. Start a team
- Platinum Card concierge
- 2. Get organized and make it official
- You would want new items if your belongings were destroyed
- Complimentary ShopRunner membership
- How do you want to make money?
- 20. Become a private tutor
- 3. Find the right financing
- Our pick for: Luxury travelers
- You own expensive jewelry or electronics
- No foreign transaction fees
- How will you find work?
- Travel insurance protections
- Our pick for: Best Buy purchases
- You have a dog
- How much autonomy do you want?
- 3. Decide if you need full coverage car insurance
- 21. Drive for Uber, Lyft
- Trip cancellation
- Shopping protections
- Trip interruption
- 22. Make deliveries for Amazon, Uber Eats
- Trip delay
- 4. Collect and compare car insurance quotes
- 23. Find work as a housesitter
- Cancel For Any Reason
- Our pick for: Digital Microsoft Store purchases
- Baggage delay
- 24. Sign up to be a mystery shopper
- Lost baggage
- Travel medical insurance
- 25. Put your drone to work
- Compare car insurance companies
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.