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Zero balance or 9% Ulti for one card?

Established Contributor

Zero balance or 9% Ulti for one card?

I have one credit card.Is it better to pay it off fully for maximum credit scores or keep the balance at 9% for the billing statement? Curious to know if the 9% ulti rule apply to people with only one credit card.

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
6 REPLIES
Valued Contributor

Re: Zero balance or 9% Ulti for one card?

somewhere between 1-9% on one card is ideal, I Would pay it down and leave 1% showing. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Valued Contributor

Re: Zero balance or 9% Ulti for one card?

There has been a maximum effect on my FICO scores when 1% utilization has reported.  YMMV.

EQ Fico 8 - 846
TU Fico 8 - 848
EX Fico 8 - 836
Valued Contributor

Re: Zero balance or 9% Ulti for one card?

Ideal would be to get 2 more cards.

               LIMITS IN CARD DESCRIPTIONS
Mega Contributor

Re: Zero balance or 9% Ulti for one card?


MountainHiker wrote:

I have one credit card.Is it better to pay it off fully for maximum credit scores or keep the balance at 9% for the billing statement? Curious to know if the 9% ulti rule apply to people with only one credit card.


What does your file look like? It's better FICO scorewise to have 3 CC's reporting 1 of them with a 1-9% balance and the others zeroed out.

 




EQ FICO 548 3/3/16
Frequent Contributor

Re: Zero balance or 9% Ulti for one card?


Crashem wrote:

Ideal would be to get 2 more cards.


+1 and carry a 1-9% uti on one card and have 2 others paid in full. 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Highlighted
Established Contributor

Re: Zero balance or 9% Ulti for one card?


Crashem wrote:

Ideal would be to get 2 more cards.


Crashem,LS & everyone else.

I had no idea that having three cards compared to two cards influences a credit profile. Do you think it better to apply for the two cards on the same day or spread the time out between apps? 

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured