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From looking at those cards, your debt doesn't look that bad. Just see if you could pay them all off at once or get them transfer to one or two cards.
For future references, try to only charge 2-3 cards a month and pay it off before charging more. Charging all the card at once we get messing and you think you have a lot of debts. I'm in college right now and money is tight and I manage just fine, so if I could do it, you definitely can too.
Having all of your cards report a balance certainly hurts your score. Ideally you want only one card reporting with a balance <9% of it's limit. The more that report the more you get dinged.
All cards at 0%
and one card @ 2% of total credit limits
@distantarray wrote:
All cards at 0%
@Anonymous one card @ 2% of total credit limits
Not sure what that last bit means. Is that the peak for the various profiles? Because the graph appears to show different utilizations across the x axis.
Why does it drop so much go to from 2% to zero UT?
if you have 5 cards at $2,000 limits = $10,000 total limits
1. charge this one to 2% of total limit $400 on total $10,000 limit.
2. $0
3. $0
4. $0
5. $0
optimal for Fico, been testing this out for a while following that Chart. It works very well.
@kroberts67 wrote:Why does it drop so much go to from 2% to zero UT?
cause it makes you appear as an inactive user.
@distantarray wrote:
All cards at 0%
@Anonymous one card @ 2% of total credit limits
This is the most awesome graph I've seen on this board. Thanks for digging it out!
OP: the ratio of cards with balances to total cards is also an important scoring variable. If I were you I would pay them all off if possible, or pay toward the highest interest first if the former is not an option.
@HiLine wrote:
@distantarray wrote:
All cards at 0%
@Anonymous one card @ 2% of total credit limits
This is the most awesome graph I've seen on this board. Thanks for digging it out!
OP: the ratio of cards with balances to total cards is also an important scoring variable. If I were you I would pay them all off if possible, or pay toward the highest interest first if the former is not an option.
np only problem for me is I have over 100k credit limits =\ I'm too much of a frugal bastard to want to pay APR on $2,000+ =\
@distantarray wrote:
@HiLine wrote:
@distantarray wrote:
All cards at 0%
@Anonymous one card @ 2% of total credit limits
This is the most awesome graph I've seen on this board. Thanks for digging it out!
OP: the ratio of cards with balances to total cards is also an important scoring variable. If I were you I would pay them all off if possible, or pay toward the highest interest first if the former is not an option.
np only problem for me is I have over 100k credit limits =\ I'm too much of a frugal bastard to want to pay APR on $2,000+ =\
My "soft" principle is to never carry a balance except in special circumstances.