Ideal cc usage

[Anonymous]

I was just approved for all the cards in my sig. What is the best way to use these cards to increase my score?

[Callandra]

Congrats on your approvals! The best way is to use them as you wish and then pay off all but one (leave 1-9% of your credit limits reporting) and that will max out your score. Just pay the rest of them off in full before the statement cuts. After the statement cuts on the one you left a balance on, just pay it all off (avoid interest!), then rinse and repeat. 

[red259]

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@Callandra wrote:

Congrats on your approvals! The best way is to use them as you wish and then pay off all but one (leave 1-9% of your credit limits reporting) and that will max out your score. Just pay the rest of them off in full before the statement cuts. After the statement cuts on the one you left a balance on, just pay it all off (avoid interest!), then rinse and repeat. 

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+1 Keep in mind that you don't really need to do this unless you are planning to app for a new card in the next 2 months or so. As long as your PIF by the due date you are fine. Doing the above maximizes your score by lowering overall util, but your util changes month to month so the benefit of going the extra mile to do this every month is not that great when you are not apping. 

[Anonymous]

i noticed a 20+ point jump on all of my bureaus from letting a card report a balance that i haven't used in a while so switch it up from time to time too on what you let report

[Open123]

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@Callandra wrote:

Congrats on your approvals! The best way is to use them as you wish and then pay off all but one (leave 1-9% of your credit limits reporting) and that will max out your score. Just pay the rest of them off in full before the statement cuts. After the statement cuts on the one you left a balance on, just pay it all off (avoid interest!), then rinse and repeat. 

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+1

This is the way to go.  I do this when I'm getting ready to go on an app spree.

[Anonymous]

Agreed with those above.

If your score is important to you, pay off all but one and let that one report a balance between 1 and 10%. Letting all report $0 balance is not good. Credit scores are quantifications of how you use your credit, not of how well you let your credit stay dormant.

If your scores aren't all that important to you, use them and pay them in full each month to avoid paying interest.

At bare minimum, use them and pay at least the minimum payment. 

Paying JUST the minimum is only recommend as a temporary practice and even then only in times of financial hardship.