(WTNH) — Inflation has more consumers carrying credit debt.

More and more people are swiping their credit cards as inflation eats into budgets and bottom lines. You may think you’re in good financial standing just by paying the minimum each month, but experts have a reminder that this isn’t the case.

Bankrate came out with a few reminders to those holding credit debt. Carrying a balance does not help your credit score, it helps when you pay your bill on time and keep your credit utilization low.

If you’re wondering what “credit utilization” is and how it works, Bankrate has an example.

So, if you have a $500 limit, and spend $250, your credit utilization would be 50%. This is bad for your score, you want no more than 30%, which would be $150 in this scenario.

The report finds people with the best scores have utilization factors in the single digits. Keeping a smaller balance is not only better for your credit score, but you’ll also save money on interest long-term.

The key is knowing when your credit card issuer reports your account information. The balance on that day is what’s reported to credit bureaus. This is typically the last day of the billing cycle, but you can find out for sure by calling.