Mint Feature Highlight: New Credit Utilization View
Kyle here from Mint’s product team. I wanted to share with you one of our newest feature updates that we hope you have already discovered.
One of the biggest impacts to your credit score is your credit utilization ratio. That sounds really intimidating, but it’s actually a simple calculation of the total amount you use on your credit cards (your balance) divided by your credit limit. Knowing where you stand is a key factor in making good spending decisions.
That’s why we wanted to make it really simple for you to go in and see how you’re doing with each one of your credit cards. If you go to the Upcoming Bills section on your Mint app and swipe right twice, you’ll see this new view:
This utilization info offers a really good visual of where you stand. Remember, many creditors look for a utilization ratio under 30%. But be cautious: revolving credit card debt of any kind is costing you extra money! So the best thing to do is to keep this as close to 0 as you can.
Enjoy the new feature and looking forward to your feedback!
All the best,
Kyle is a Product Manager on the Mint team in Hod HaSharon, Israel. Before this, he worked on different teams in San Francisco and London. He loves reading, writing, music and going to as many concerts as possible. He loves thinking about the future of technology and considers himself an Elon Musk Fanboy. Follow him on Twitter: @kyledavidweiss