@Dalanar wrote:Say I have the following for balance/limit
Visa - 1000 / 7500 (13%)
Mastercard - 0 / 3500 (0%)
Discover - 0/4000 (0%)
Total Utilization = 6.7%
Here, the Visa would be about 13% individually.
From a FICO score perspective, would I be better off to spread the balance instead as follows:
Visa - 500 / 7500 (6.7%)
Mastercard - 200 / 3500 (5.7 %)
Discover - 300/4000 (7.5%)
Total Utilization = 6.7%
Here, none of the card has over 10% utilization individually.
I guess the question is if I have a total utilization well under 10%, would it be fine for any one card to have util over 10% as long as it's under something reasonable, like 20-30%?
I know it's confusing--- but hopefully my question somewhat makes sense.
Thank you.
I think you want to have one card reporting, and as long as you are under 20% you are fine. Though for best score results you should really be below 10%.
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@Dalanar wrote:Say I have the following for balance/limit
Visa - 1000 / 7500 (13%)
Mastercard - 0 / 3500 (0%)
Discover - 0/4000 (0%)
Total Utilization = 6.7%
Here, the Visa would be about 13% individually. This scenario would be the best for your Fico score, drop that util to 9% or lower of that cards CL and it will even be better.
From a FICO score perspective, would I be better off to spread the balance instead as follows:
Visa - 500 / 7500 (6.7%)
Mastercard - 200 / 3500 (5.7 %)
Discover - 300/4000 (7.5%)
Total Utilization = 6.7%
Here, none of the card has over 10% utilization individually.
I guess the question is if I have a total utilization well under 10%, would it be fine for any one card to have util over 10% as long as it's under something reasonable, like 20-30%?
I know it's confusing--- but hopefully my question somewhat makes sense.
Thank you.
