I am a beginner at using credit cards. [My first credit card is a month old now].
I am reading this blog post, where I came across this line about credit utilization:
if you have a $10,000 credit line on a card, you don’t want to maxing it out every month; in fact, you should ideally only be using a small percentage (under 10 percent) of your credit line.
What is wrong with, me using 70-80% of my credit limit every month, and then paying it off in full before the due date? Why should I limit my credit usage to just 10%?
PS: I've used 43.2% of my credit limit in my first month, and paid it off in full well before the due date. Would my credit score addition be lower than someone who used 10% and paid the bills in full?