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That's fine but still ur not saying any thing by saying 1-9utl
The po was asking for answers base on his experience and i gave my expertise on this field
Believe me i have spend more then 10k on fico reports but as i said its also depend on other credit factors IMO
could be 1 percent, could be under 1 percent, could be 2 percent, could be something else. IF 2 percent works best for you, fine. It most certainly doesn't work best for everyone else.
@youngandcreditwrthy wrote:
Allegedly 9% util is optimal
I'm a bit confused...does 9% mean in total? I've read to have all cards report zero balances except for one, which should report 1-9%. However, if the 9% is for the total, if you have several cards, getting to 9% total will necessitate your going over 9% on the one card. I hope I stated this clearly.
@indiolatino61 wrote:
@youngandcreditwrthy wrote:
Allegedly 9% util is optimalI'm a bit confused...does 9% mean in total? I've read to have all cards report zero balances except for one, which should report 1-9%. However, if the 9% is for the total, if you have several cards, getting to 9% total will necessitate your going over 9% on the one card. I hope I stated this clearly.
You are understanding it correctly. It is 1-9% of your TOTAL revolving credit. This is is why it is important to you your card that has the highest CL because you can also get a ding for going over about 30% of that card. AFAIK.
This rule apply only on my fico transunion/Individual calculation and collective calculation
Equifax/Collective calculation
@SnackTrader wrote:
Well I encourage everyone who NEEDS an extra 5-15 points out of their score to try to find their personal "magic number". Personally, I find pretty much everything under 10% reasonable for my score. But as I stated earlier I do not believe everyone has the exact same ideal utilization, and I don't think that advertising any single number as perfect is beneficial for the readers of this forum. Quite simply, without a heavy amount of evidence, I think saying 2% is the only answer is very misleading.
I will stick with the 1-9% frequently discussed based on the years of evidence from these forums.
+50,000,000,000,000 well said Snack!