Hello all,
Is the practice of letting only one CC show a 1-9% balance still valid if you also have an auto loan? In other words, can you just let the auto loan report and all your cards report zero? This is for maximum FICO scoring. Thanks as always for your input.
@indiolatino61 wrote:Hello all,
Is the practice of letting only one CC show a 1-9% balance still valid if you also have an auto loan? In other words, can you just let the auto loan report and all your cards report zero? This is for maximum FICO scoring. Thanks as always for your input.
Not sure about this but I would recommend not to stress about micro managing until you plan to app. 1 or 2 revolving accounts with a balance is no big difference in scores anyway (5-10 points only for me) and this will certainly not make the difference between approval or denial. 
0 balance reporting is bad and the loss in score is bigger (for me minus 15-20) than reporting 2 accounts with a balance. So I would not report all revolving with 0 balances. At least in my tests with only revolving accounts. To get auto-luv I think this all 0 and 1 balance reporting micro management thing might even be contra productive? I will do 1-2 accounts with balances for end of May/beginning June preparing for an app but in the meantime I simply do not care and report balances as they come. Soon will have 7 out of nine reported with a balance or might end up even 9 of 9..we will see....
edit: all tests with single digit overall util and up to 90% single card util 
..same result
@user5387 wrote:
@indiolatino61 wrote:Hello all,
Is the practice of letting only one CC show a 1-9% balance still valid if you also have an auto loan? In other words, can you just let the auto loan report and all your cards report zero? This is for maximum FICO scoring. Thanks as always for your input.
The rule typically applies within revolving accounts, which an auto loan is not, so it's still wise to let one CC show a balance in such a case.
Thank you for your input...this is what I will continue doing at app time.
@lg8302ch wrote:
@indiolatino61 wrote:Hello all,
Is the practice of letting only one CC show a 1-9% balance still valid if you also have an auto loan? In other words, can you just let the auto loan report and all your cards report zero? This is for maximum FICO scoring. Thanks as always for your input.
Not sure about this but I would recommend not to stress about micro managing until you plan to app. 1 or 2 revolving accounts with a balance is no big difference in scores anyway (5-10 points only for me) and this will certainly not make the difference between approval or denial.
edit: all tests with single digit overall util
Thanks LG...I am planning to app in June/July and was curious what others thought. I'm going to continue the usual one cc at 1-9% in May. Like you said, the few points will not be the approval/denial pivot point.
@myjourney wrote:Correct the 1-9% rule only applies to CC's
Thanks to you also, MJ! I'm surprised there wasn't a garden admonition included...lol!
@indiolatino61 wrote:
@myjourney wrote:Correct the 1-9% rule only applies to CC's
Thanks to you also, MJ! I'm surprised there wasn't a garden admonition included...lol!
Lol
You want gold so I think you'll be ok .....Disclaimer ....SO FAR 