i never worried about interest rates i never carry cc balances either. I could see how having high interest cards even without a balance could negatively affect one's credit rating.
Interest rates don’t figure into credit scores.
What will affect your credit score Is the amount of revolving credit lines (credit cards) that are open, how they are utilized, balances that are being held versus how much available credit and of course your payment history.
If you have too many credit cards available, but no balances that can also be a negative because you have too much available credit that might get you into trouble with no payment history on them.
If you have a lot of credit cards with balances on them, but making steady payments every month it might show you under distress, carrying all those balances if those balances are getting close to your maximum credit limit on those cards.
The credit scoring companies know what they’re doing and it’s an intricate formula
Constantly paying your cards in full every month shows diligence, responsible use of credit and something like a home mortgage or an auto loan will further raise your score.
Like others in here I don’t really care too much. It’s just a fun thing but I’m constantly 830 to 850 depending on the credit agency.
We never carry balances, and we greatly use every single credit card for a variety of purchases for maximum cashback. It’s stupid like somebody else in here. We collect well over $1000 a year in cash back. We never ever use cash to buy .
We also take countless offers by opening up bank accounts and checking accounts. I think last year I collected an additional $2100 in bonuses by opening and closing checking accounts and savings accounts.
It’s free money, so why not?
By the way, there is a thread in here to make sure you lock your credit with the credit agencies
