 TITLE: The Simple Guide to Using Credit Cards CONTENT: How Credit Cards Will Impact Your Credit\n----------------------------------------\nAs soon as the account is granted, the credit card issuer will send your account activity to the credit reporting agencies. That information will be factored into your credit scores. The primary data that will show up includes the date the card was issued and the credit line. It will also indicate your balance and payment pattern. All of this is crucial to a credit score. The FICO® Score☉ , for instance, ranges from 300 to 850, and higher numbers indicate less credit risk. It's based on five factors, with some being weightier than others:\n**Payment history (35%)**: A pattern of on-time credit card payments will definitely help your scores rise.  \n**Credit utilization (30%)**: The amount of revolving credit you're using divided by the total amount of revolving credit you have available is called your credit utilization ratio. Maintaining no or little debt is best, but if you must maintain a balance, keep it below 30% of your available credit to avoid negatively affecting your credit score.  \n**Credit history (15%)**: Having a long relationship with a credit card issuer is beneficial. You can't speed up the clock, but you can start charging soon, and keep older accounts active.  \n**Credit mix (10%)**: One credit card is a fine start, but a couple more plus other credit products such as an auto loan or personal loan will give your scores another push upward—as long as you make your payments on time and as agreed each month.  \n**Inquiries (10%)**: When you submit a credit card application, you give permission for the issuer to check your credit, resulting in a hard inquiry on your credit report. A slew of such inquiries on different types of credit in a short span of time can lower your score, so apply prudently. END