How does the usage of credit card affect your credit score? An explainer

Using a credit card affects your credit score in a number of ways. The factors which determine your score include the payment history, credit utilisation ratio and the length of credit history, among others. You should pay your balance multiple times a month or ask for a higher credit limit to keep utilisation low. You can keep old credit cards open, even if you don’t use them much. Keep credit utilisation below 30 per cent: High credit balances can potentially hurt your score.