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Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

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

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Valued Contributor
jamesdwi
Posts: 1,965
Registered: ‎09-16-2011
0

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. 

 

 


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Valued Contributor
android01
Posts: 1,226
Registered: ‎09-22-2009
0

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 - EQ08 - 850 -10/22/14
TU FICO - TU08 - 850 - 10/22/14
EX FICO - EX08 - 850 - 10/22/14
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

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

Ideal would be to get 2 more cards.

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Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
0

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.

 




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
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iMacDrew
Posts: 350
Registered: ‎07-13-2012
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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
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

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

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