Hi {first_name},
In our last email we discussed the different levels of your CUR (Credit Utilization Ratio) and how they might affect your credit scores.
We also mentioned that the easiest, and most obvious way, was to just pay down those balances. Since we can’t always do that, what are some other ways we can improve your CUR?
There are three that we’ll explore in more detail. We’ll also go over the possible downside(s) to each. In this email we’ll hit the first of three and the rest in emails to follow.
Part 1 - Pay off your balances more than once per month
Credit Card companies report your balance to the credit bureaus more than once per month. It’s hard to know when they will report, but if you make payments twice per month you stand a better chance of having a lower CUR.
Another option would be to call each credit card company and ask them for the dates they report. Then you can pay down those balances before that date so you will see your CUR and your credit scores improve.
Possible Downside: One downside to this is that you don’t get to use the “float” or free time you have before they charge you interest on your balance. The other is that if you have a number of cards it might be difficult to keep track of this. You might try putting all your cards into a spreadsheet to keep the payment dates organized.
In your next email we’ll go over another way you can possibly increase your scores by improving your Credit Utilization Score.
Sincerely,
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