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Established Member
JT44
Posts: 34
Registered: ‎01-08-2013

Quick Question..

If Im just gardening for a while, is it better to have low utilization every month on your revolving accounts and pay 100% every month? Or actually keep a balance that is around 5-10% utilization. I assume its best to keep utilization down below 10% and then pay it off, every month, 100%. Is this correct? THANKS!

Started a little over a year ago: LOW 500's

Now as of /20/13: FICO EX: 709 TU: 706 EQ: 682
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Quick Question..

if you are gardening, it doesn't matter what your utilization is. If you can pay it off, then you should to avoid any interest fees.

However if you have 0% APR offers, feel free to drag it on since it's interest free.

Your scores will drop temporarily, but it doesn't matter since you're not applying for anything.

 

Just dont put really high balances on a few cards because you might get FR.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Community Leader
Senior Contributor
myjourney
Posts: 25,277
Registered: ‎02-07-2013

Re: Quick Question..

If your not planning to apply for new credit it really doesn't matter


JT44 wrote:

If Im just gardening for a while, is it better to have low utilization every month on your revolving accounts and pay 100% every month? Or actually keep a balance that is around 5-10% utilization. I assume its best to keep utilization down below 10% and then pay it off, every month, 100%. Is this correct? THANKS!



/

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09Lexie
Posts: 24,544
Registered: ‎09-13-2012

Re: Quick Question..

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: Quick Question..

Ive gotten fat and lazy in my garden and so have my balances! :smileyhappy:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
codimom
Posts: 386
Registered: ‎09-08-2010

Re: Quick Question..

NO NO, no fat lazy balances.  to the treadmill with those and work them down :smileyhappy:

 


Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13


Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013

Re: Quick Question..

    It doesn't really matter and when and if it does matter, the correct answer varies from person to person, credit report to credit report. Some say you should carry a zero balance on all cards but one and on that one card you should carry a balance of less than 9% util but more than 0 but some find that having more than one card with a small balance is better so it really varies., ..

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