How To Get A $0 Balance On Your Credit Report

MoneyTipsYou need a loan and you want the best interest rate possible. You know that a high credit score paves the way for the best interest rate offers – but did you know that your credit card balances contribute to one of the five factors used to calculate your credit score? Your credit utilization, defined as the amount of credit you use compared to your credit limit, is one of the largest components of your credit score. When your credit balance is zeroed out, your credit utilization at that moment becomes zero as well. Creditors can see that you…