GLENDALE, CA – Have you ever felt lost trying to decipher all the factors that determine your credit score? You’re not alone. Credit utilization rate is one piece of the puzzle that often leaves people scratching their heads.
To offer some clarity, Mark Jorel Snow, a financial coaching manager at Slick Cash Loan, just published an insightful blog post explaining everything you need to know about this influential metric.
Based in Glendale, CA, Slick Cash Loan is an online lender providing quick access to funds through products like payday loans and bad credit loans. Mark has over 15 years of financial experience guiding the company’s customers. He shared, “I’m passionate about demystifying complex money topics so people can take control of their finances with confidence.”
This passion sparked his in-depth post called “Decoding the Concept of Credit Utilization Rate.” Mark explained, “Credit utilization rate accounts for 30% of your credit score, so optimizing this factor is crucial. But most find it confusing.”
In plain terms, it’s the percentage of your total available credit that you’re currently using. A high rate signals risk of missed payments to lenders and drags scores down.
Mark recommends staying below 30% – and the closer to 10% the better. “I wanted to provide readers clear, actionable steps for calculating their rate, lowering it if needed, and maintaining healthy habits long-term,” he said.
Monitoring your utilization and keeping it low is key, Mark advised, as high rates can lower scores dramatically. Promptly paying balances, transferring debt to low interest cards, requesting credit line increases, and spreading purchases across accounts are some of his top tips for lowering utilization quickly.
Mark also underscored the importance of on-time payments, which make up 35% of your score. Setting up autopay and reminders helps avoid late fees and dings to your credit.
For DIYers, Mark covers frequently asked questions about utilization at the end of his article. “My goal is to empower people to take control of their financial standing,” Mark explained. “These strategies do just that.”
Readers can access Mark’s complete credit utilization guide on the Slick Cash Loan blog. He’s also happy to offer personalized coaching. “We create tailored money strategies and provide unmatched support. Contact us through our website or social channels and let’s chat!”
Get the inside scoop on what makes Slick Cash Loan a top lending choice here. Mark summed up, “When urgent expenses arise, we’re here to help every step of the way.”
Connect with Mark Jorel Snow and the Slick Cash Loan team on Facebook, Twitter, and YouTube.
Media ContactCompany Name: Slick Cash LoanContact Person: Mark Jorel SnowEmail: Send EmailPhone: (888) 200-7445Address:1125 E Broadway City: GlendaleState: CaliforniaCountry: United StatesWebsite: https://slickcashloan.com/
