got the CC i wanted, do i keep the old one?

[Anonymous]

---

@Anonymous wrote:

also, as far as UTIL goes, if i have 7500 and 2500 (round down for an even number) limit (10,000), does that mean no matter which card i spend the money on, credit bureaus only look at overall UTIL?  so could i put 2,000 on the 2,800 card and instead of seeing 71% on the WF card and 0% on the fidelity card, they just see 20% and that's it?

---

It's not quite that simple. As far as I know, Fico looks at both, the overall balance and the balance of single accounts. Of course, the overall balance will have a larger effect. If one of your cards doesn't report a limit, it gets even more difficult, but I don't think that's the case with your cards.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

also, as far as UTIL goes, if I have 7500 and 2500 (round down for an even number) limit (10,000), does that mean no matter which card I spend the money on, credit bureaus only look at overall UTIL?  so could I put 2,000 on the 2,800 card and instead of seeing 71% on the WF card and 0% on the fidelity card, they just see 20% and that's it?

---

It's not quite that simple. As far as I know, Fico looks at both, the overall balance and the balance of single accounts. Of course, the overall balance will have a larger effect. If one of your cards doesn't report a limit, it gets even more difficult, but I don't think that's the case with your cards.

---

First of all,  agree with everyone....  keep the card for all the reasons mentioned and then some.

Next, it is best to report a balance on less than half of your open accts which means that you should only report a balance on one of these cards, and actually, having a 3rd is not a bad idea (but still only report a balance on one.)

Also, FICO looks at both individual card utilization and overall utilization so.... Ideally, you would want to report < $650 (9%) a month on the $7500 Card and $0 on the other.  As others have mentioned, you will probably want to run something through the other card periodically and if it's a monthly charge, all the better, but just be sure to pay that one off before the statement cuts to avoid posting a balance. 

IMO, this is the best combo for improving FICO scoring.  I'm sure others, (hauling) can probably add quite a bit to this! 

[MarineVietVet]

---

@Anonymous wrote:

---

---

First of all,  agree with everyone....  keep the card for all the reasons mentioned and then some.

Next, it is best to report a balance on less than half of your open accts which means that you should only report a balance on one of these cards, and actually, having a 3rd is not a bad idea (but still only report a balance on one.)

Also, FICO looks at both individual card utilization and overall utilization so.... Ideally, you would want to report < $650 (9%) a month on the $7500 Card and $0 on the other.  As others have mentioned, you will probably want to run something through the other card periodically and if it's a monthly charge, all the better, but just be sure to pay that one off before the statement cuts to avoid posting a balance. 

IMO, this is the best combo for improving FICO scoring.  I'm sure others, (hauling) can probably add quite a bit to this! 

---

A MOST excellent post!

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 10/10-774
You can do the same thing with hard work

[Wolf3]

Why not use the Wells Fargo bill pay, since you want to pay from the same place?