I am trying to get my credit utilization down. It is around 50% right now, but every month i pay my balances down to $0. My question is if i pay off my credit cards before my cycle ends and leave 5% utilization left on each and pay on the due date, will that work on keeping my utilization down?
Should I switch the cards up every month with the 9% util or just use the same card every month and leave the rest at $0?
you have to use them all once in awhile or the banks will eventually close your cards.
if your statement balanace is $0, then your payment due is $0.... so you can charge money not even worrying about the next due date (since payment due is $0) and then pay the full balance just before the next statement date again..... leaving your statement balance still at $0 and your payment due still $0 again. This way you can always use the card, you only have to remember one date, and you always pay in full. It works perfectly.
EX:694 TU:744 EQ:777I use all my credit cards all the time, but my question was should i rotate the ones that i leave the 9% on or just use the same credit card each month for the 9% that is left. Since i use all my cards i will pay all balances down to $0, but leave one card at 9% to show on the CR
It doesn't matter.
If you want to keep a revolving balance and use multiple cards, thats ok too... just harder to manage. From personal experience, I know that if you can keep track of all your totals and all your limits and maintain around 9% or less util among all the cards, you will see a significant score increase.