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Established Contributor
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Registered: ‎08-07-2012
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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.

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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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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.

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

Ideal would be to get 2 more cards.

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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.

 




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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. 

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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? 

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