Reply
New Contributor
Posts: 56
Registered: ‎04-20-2007
0

Best Way to Use Cards

I have paid off all my CCs to a zero balance.  I do have some regularly recurring fees that I have spread out amongs 3 of my CCs....small amounts which I am able to pay-in-full every month.  Is it best to leave the charges split up between the 3 cards, or place them all on one card (the one with the higher limit so as not to have a high utilization)  

 

Anyone have any insight/input on this??  :smileyindifferent:



Starting Score: 5 43 Ex May 2012 EQ May 2012 550
Apr 2013 Score: Apr 2013 TU/ 683 Ex /670 EQ/ 686

Dec 2013 EQ/751 TU/730 EX 762

Goal Score: 740


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Best Way to Use Cards

Use whatever gets you the best rewards.  If those are either equal or not applicable, use the one you think you can get the best CLI's out of.  When given consistent use your more easily get CLI's.  Use them all at least once every three months.  Pay the bill in full a couple of days before your statement ending date to prevent balances from reporting.  

Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Best Way to Use Cards

1 account @ 2% of total credit limit ( $200 / $10,000 all cards combined limit) rest of the cards at 0% when they report = optimum


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Blogger
Posts: 3,355
Registered: ‎10-19-2012
0

Re: Best Way to Use Cards

If you don't care about rewards, I would use a different, single card each month to avoid managing multiple cards at once and still show activity every few months.

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Best Way to Use Cards

I have all of my recurring charges on my cap1 cash rewards card because it has a $2500 limit so there is wiggle room afterwards. The Chase Freedom only has a $1000 limit so I don't put any recurring charges on that card. Instead, that is the card I use for everyday expenses and I try to match the charges up with the 5% categories while the Cap1 card gets the charges that are only worth 1% on the Freedom as they go towards the 50% bonus cash back.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.