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Is it better to leave a small balance ...say under 10% on a credit card...(.I have 3 in good standing) when reporting is done by credit card company or should you be at $0?? I currently pay in full monthly...almost immediatly after usage of cards before payment is due. Does paying in full and showing a $0 balance hurt your score? Since it may look like I havent used it as possibly viewd by Bureaus....or is this wrong in my assumptions. Thanks for any input!!
You say you have 3 cards? 2 at 0% and one under 10% before the statement cuts.
generally I use all 3 cards and keep them all under 10% each. Never exceeding 30%
@Anonymous wrote:generally I use all 3 cards and keep them all under 10% each. Never exceeding 30%
You see your score boost if you have only 1 report under 10% and the others at zero.
You would think that visually showing the bureaus that you can handle multiple cards each month under 30% that they will see your creditworthy .... But is it actually to your advantage to use just one card per month? Interesting.
I have Captial One platinum .... since August 2016... cli from $200 to $500 after 5 months.
I also received Capital One Silver in March 2017 that was offered to me during a customer service call and that CL is $500
I have Credit One Unsecured received December 2016 starting CL $300 then they auto raised limit after 6 months to $500
I have a Home Depot card on its way....credit line offered was $500.... I immediatly called after online approval and requested higher limit....they raised to $1500.
@Anonymous.
Your payment history will still show if you use all 3 cards but have all but 1 paid down. A lot of this has to do with the way that FICO scores things. While no one knows exactly how everything is determined, the ideal balance reporting is under 10% for 1 card and even for that YMMV may vary as to what is ideal for your individual profile. It might be 9% for some, while it might be 1-2% for others.
@Anonymous wrote:I have Captial One platinum .... since August 2016... cli from $200 to $500 after 5 months.
I also received Capital One Silver in March 2017 that was offered to me during a customer service call and that CL is $500
I have Credit One Unsecured received December 2016 starting CL $300 then they auto raised limit after 6 months to $500
I have a Home Depot card on its way....credit line offered was $500.... I immediatly called after online approval and requested higher limit....they raised to $1500.
I'm not a big fan of Credit One (although they were nice enough to remove my CO). I would keep it open at least until your Platinum turns a year old, then I would close it. Maybe by then, you'll have gotten a steps increase from Cap 1 on the Quicksilver and can let Credit One go. No point in paying monthly service fees for a card that isn't going anywhere.
Thank you KayKay...
Please tell me and forgive me for not knowing.... YMMV?
Are you saying... leave one card with a balance during reporting and showing a low utilization?
I agree on the Credit One account..... however I also want to be careful of growing my age reported on revolving credit..... with that said...I agree on the issue of fees