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New Contributor
JDizzle
Posts: 69
Registered: ‎03-24-2008

Card Usage

If i use all my credit cards and PIF before the statement cuts except leave a small balance on 1 card, does FICO know this and/or does it matter for my score?
 
Also is utilization always rounded up?
(I.e. 6.45% would be considered 7%?)
 
I ask this because in order for me to get 1-9% on my cards per month i have to charge about $100 a month which covers all the stuff i would need to pay for anyways like bills and stuff. so if i can get my utilization at 1.25% then it would be considered 2%?
 
Thanks.
09/15/08 FICOs: EQ - 643, EX - 671, TU - 693

700 club by 09'
Mega Contributor
Creditaddict
Posts: 18,905
Registered: ‎10-23-2007

Re: Card Usage

I believe util is broken down to brackets 1-9, 10-19, etc. so it does not matter where you are as long as it's under 9.
 
Fico Scores: EQ 657 Cabelas, TU 665 GE, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007

Re: Card Usage



JDizzle wrote:
If i use all my credit cards and PIF before the statement cuts except leave a small balance on 1 card, does FICO know this and/or does it matter for my score?

FICO will not know this, and it will not affect your score.  FICO only knows the reported balance in a given month.  What you stated is exactly the best way to handle your cards for maximum FICO purposes.
 


JDizzle wrote:
 
Also is utilization always rounded up?
(I.e. 6.45% would be considered 7%?)
 

In my experience, utilization is rounded up.  Others have reported different experiences.
 
Essentially, however, there is no difference between 1% and 9% for most people.  Allow a balance to report of greater than $0 and 9% or less and you should be good.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
New Contributor
JDizzle
Posts: 69
Registered: ‎03-24-2008

Re: Card Usage

Great! thanks for your help; i'm just going to repeat this system month after month and let my history build positivly.
09/15/08 FICOs: EQ - 643, EX - 671, TU - 693

700 club by 09'

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