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Credit Card usage from 2% to 1%

Valued Contributor

Re: Credit Card usage from 2% to 1%

Can I ask how you KNOW that 2% is the best? If you have some inside information, the rest of us would love to hear it!

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 11 of 28
Frequent Contributor

Re: Credit Card usage from 2% to 1%

It seems 2% is the number and I thought my usage would round up but, they rounded down. Thanks for the input.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 12 of 28
Frequent Contributor

Re: Credit Card usage from 2% to 1%

I don't have any inside information. Everything was fine until I got down to 1% so, I will keep it at least 2% from now on. Might try 3 and 4% just to see. I am gardening right now so I have couple of months to play with.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 13 of 28
Valued Contributor

Re: Credit Card usage from 2% to 1%

Not referring to you.

Referring to Daniel, who was so sure that 2% was correct that he would allow a person to base their entire credit profile on that information.

I appreciate the reply though!

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 14 of 28
Established Contributor

Re: Credit Card usage from 2% to 1%

I think we all agree 1% is not the best target.
Message 15 of 28
New Contributor

Re: Credit Card usage from 2% to 1%

Because I have try this for 12 years now and is always 2% for maximize score

Speaking from experience 100% sure about this plus you can try the fico simulator

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Message 16 of 28
Frequent Contributor

Re: Credit Card usage from 2% to 1%

I think we have a consensus, don't mess around with 0 and 1%. I really appreciate all of you helping me out.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 17 of 28
New Contributor

Re: Credit Card usage from 2% to 1%

You need to show some use on the cards preferable 2%

If you go below that you lose from 3 fico points to 10 fico it all depend on how many trades and other factors as well but the general idea is 9% and down but no less then 2% utl. The new idea is more trades more score but i have yet to prove that functionality  so.....

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Message 18 of 28
Valued Contributor

Re: Credit Card usage from 2% to 1%

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.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 19 of 28
Frequent Contributor

Re: Credit Card usage from 2% to 1%

I agree, one size does not fit all. Thanks a lot.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 20 of 28