Reply
Frequent Contributor
Posts: 473
Registered: ‎02-11-2013
0

Monthly Spending Criteria For Best Fico Score??

Even if you don't really have to use all of your credit cards each month, what is an ideal amount to charge on each one in order to get the most benefit in terms of Fico Score?  I know inactivity isn't always a good thing..

 

Hope everyone is having a great day!!

Citi Hilton Honors: $25,000 -- Chase Sapphire Preferred: $25,000 -- Amex PLat: $NPSL -- Amex Everyday Preferred: $10,000 -- Citi TY Premier World: $16,800 -- NWFCU: $7,500 -- Chase Amazon Rewards: $7,000 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,400 -- Discover IT: $8,000 -- AmexTrueEarnings: $10,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500
Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Monthly Spending Criteria For Best Fico Score??


RSCo wrote:

Even if you don't really have to use all of your credit cards each month, what is an ideal amount to charge on each one in order to get the most benefit in terms of Fico Score?  I know inactivity isn't always a good thing..

 

Hope everyone is having a great day!!


The view heard here is the best way to maximize is to have exactly one card report a balance (of a few %) and the others report 0, either by PIF before statement cuts or by not using them.

 

So if that is correct, there is no need to spend on each card.  The reason that you see people here doing small charges every few months on each card is to prevent the issuer closing for non-use, nothing to do with FICO concerns.  (Except of course that if the card is closed there may be score impacts)

Valued Contributor
Posts: 1,142
Registered: ‎05-17-2010
0

Re: Monthly Spending Criteria For Best Fico Score??


bs6054 wrote:

RSCo wrote:

Even if you don't really have to use all of your credit cards each month, what is an ideal amount to charge on each one in order to get the most benefit in terms of Fico Score?  I know inactivity isn't always a good thing..

 

Hope everyone is having a great day!!


The view heard here is the best way to maximize is to have exactly one card report a balance (of a few %) and the others report 0, either by PIF before statement cuts or by not using them.

 

So if that is correct, there is no need to spend on each card.  The reason that you see people here doing small charges every few months on each card is to prevent the issuer closing for non-use, nothing to do with FICO concerns.  (Except of course that if the card is closed there may be score impacts)


+1.  No need to spend a certain amount on each card per month.  If you have cards that you aren't too fond of but want to keep open for util purposes, throw a pack of gum on them every couple of months.  

Frequent Contributor
Posts: 473
Registered: ‎02-11-2013
0

Re: Monthly Spending Criteria For Best Fico Score??

okay, good deal guys....

 

maybe i'll just rotate through 2 cards each month with small charges....

Citi Hilton Honors: $25,000 -- Chase Sapphire Preferred: $25,000 -- Amex PLat: $NPSL -- Amex Everyday Preferred: $10,000 -- Citi TY Premier World: $16,800 -- NWFCU: $7,500 -- Chase Amazon Rewards: $7,000 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,400 -- Discover IT: $8,000 -- AmexTrueEarnings: $10,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.