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Member
pensacolaboy
Posts: 9
Registered: ‎02-04-2009

whats a good balance to have for a $300 cc

i have a $300 dollar cc and was curious as to what i should keep my balance at when it is reported to the bureaus?
Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008

Re: whats a good balance to have for a $300 cc

less than 9%.
Valued Contributor
wmarat
Posts: 1,754
Registered: ‎11-03-2007

Re: whats a good balance to have for a $300 cc

$26.99
IN VINO VERITAS.
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: whats a good balance to have for a $300 cc

A long as you dont go over its CL, it doesnt matter from month to month as far as FICO scoring is concerned.

FICO scoring erases all prior history of %util when a new account balance is reported, and thus a new credit score is calcualted.

Your real concern with FICO scoring only matters in the month or two prior to your application for new credit.  Dont be too fixated on monthly balances until such time as you are ready to app for new credit.

Just dont exceed your CL, and make sure to timely pay the min each month. 

Be concerned about what is optimal when it matters.

Established Contributor
medicgrrl
Posts: 703
Registered: ‎03-23-2009

Re: whats a good balance to have for a $300 cc


RobertEG wrote:

A long as you dont go over its CL, it doesnt matter from month to month as far as FICO scoring is concerned.

FICO scoring erases all prior history of %util when a new account balance is reported, and thus a new credit score is calcualted.

Your real concern with FICO scoring only matters in the month or two prior to your application for new credit.  Dont be too fixated on monthly balances until such time as you are ready to app for new credit.

Just dont exceed your CL, and make sure to timely pay the min each month. 

Be concerned about what is optimal when it matters.


 

That is not completely true.  If you have other revolving accounts then you run the risk of having the other lenders soft pull your report at any time and if they don't like to see your other accounts maxed out then they can do an AA.
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