Carrying High Credit Balances

Tips and Deals Forums Home Mortgage Carrying High Credit Balances

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    • #233729

      Hi all,

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      My Experian score is 793. I work as a consultant and have to travel for work. As a result, I carry pretty high balances each month (20%-33%). Earlier I used to pay off multiple times a month and keep my balances below 10%. This was reflected in my credit score as well. Now I want to keep some cash handy on top of the 20% downpayment and closing costs as I know the costs can add up in the worst case scenario. Will carrying a higher balance affect my credit score/report that much? Also do I need to pull out my other scores as well?

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      TIA!

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