Credit Cards

[MountainHiker]

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.

[jamesdwi]

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

[android01]

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

[Crashem]

Ideal would be to get 2 more cards.

[LS2982]

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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.

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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.

[iMacDrew]

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Crashem wrote:

Ideal would be to get 2 more cards.

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

[MountainHiker]

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Crashem wrote:

Ideal would be to get 2 more cards.

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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?