Change one credit card habit this month to improve your financial worthiness

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Many people in the UK use a credit card regularly, however one common habit could be quietly harming your credit score and worthiness with future lenders - without you realising it. Money expert Joe Smithies at PennyPlan explains everything you need to know about your utilisation rate - the amount of available credit you are using at any one time. ‌

Mr Smithies explained: “If you consistently use a high percentage of your credit limit, even if you pay off the balance in full each month, it can signal to lenders that you may be relying too much on credit.” ‌

This habit can cause your credit score to drop month after month. “Ideally, you want to keep your credit utilisation below 30 percent. For example, if your credit card limit is £1,000, try not to use mo