Credit Cards

[dfitzg]

Macys - 179/600

Household MC - 250.11/500

Cap1 MC - 338/500

Cap1 Visa - 280/500

Chase Visa - 219/400

Target - 230/500

What should my ideal balances be ???

[Uniqua]

If I am doing the math correctly, looks like you're at 50% util.

Util under 10% is best.

[voidman]

around 30% is good but around 10% is very good. You have high balance on those cards IMO.

[dfitzg]

im paying them off over the next 2 months they should be around 30 % by the time im done 

[marty56]

9% and they round up.  Thats how $15 is 1% of my total util.

[dfitzg]

isnt 10% a bit rediculous, why have it and not use it

i guess i an use it then pay before the statement cut ...

thnx for the input guys 

[Uniqua]

It may sound ridiculous, but that is what FICO likes. 30% util is too high.

[voidman]

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Uniqua wrote:
It may sound ridiculous, but that is what FICO likes. 30% util is too high.

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30% is higher than 10% but its not a bad ratio.

Message Edited by voidman on 06-26-2008 04:24 PM

[voidman]

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dfitzg wrote:

im paying them off over the next 2 months they should be around 30 % by the time im done 

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good, after that work towards keeping the util around 10% (as it gives IMO *max* score jump on util)

Also, you can *artificially* show 10% util by paying off enough balance before the statement cuts.

[cheddar]

The key is less than 10%.  You will get max FICO points for keeping utilization at 9% or less.