Difference Between Paying of CC one time or over 12 months

[samahok]

Hello Fico forums, I recently purchased a diamond thru Blue Nile. I had the money to pay for it in cash, but figured if I got their credit card, it would give me a positive TL and give me more credit to help with my Utilization.  I have 0% intrest on the card for 12 months and do not plan on using the card anytime soon.  My question is, will it make any difference if I pay off the card right away in full bringing my utl way down, or will it look better if I just pay it off on time over the next 6-10 months?  I was fooling around with the simulator, and it gave me the most points if I pay it off over the next 12 months.  I know that the simulator is just for educational purposes, but I dont have much credit history, and I am not worried about spending the money I have set aside to pay off the diamond.  Will paying it off monthly vs all one time make any difference as far as fico is concerened?  I plan to garden what cards I have now for at least another 10-12 months and wanted to know if I will look better to a prime cc lender showing a history of on time payments over span of the free interest or just paying it off and keeping my UTL to 9%?

Any suggestions/advice would be greatly appreciated.

Thank you in advanced!

[samahok]

If it makes any difference, the other two cards I have are a capital one secured 0/350 and a capital one cash rewards with 100/500 (will be paying off by next statement), and the blue nile cc showing 2400/2850.  My TU fico is at 645 showing my blue nile at 2807/2850, and my EQ fico at 601 but I have not updated my EQ Fico since before the blue nile started reporting and havnt gotten any sw alerts about it yet.

Thank you again!

[samahok]

Bump...any input?

[guiness56]

The longer you make payments the longer your utilization will stay high.  As of now it would be considered maxed out and that is a double ding.

Paying it off all at once would be much better.

[samahok]

Thanks shogun...I was just thinking having a perfect payment history would've made me look more responsible in the eyes of other lenders. But I guess having available credit and not using it also looks responsible. What % does fico consider to be maxed out?

[guiness56]

---

@samahok wrote:
Thanks shogun...I was just thinking having a perfect payment history would've made me look more responsible in the eyes of other lenders. But I guess having available credit and not using it also looks responsible. What % does fico consider to be maxed out?

---

Alrighty then lol.  Somewhere between 70 and 90%.

[samahok]

Lol I didn't just disregard your opinion, infact I just finished writing the check and I'm sending it out first thing tomorrow morning. Now I'm curious to see how much my score goes up!

Thanks again

[guiness56]

I was laughing because I was the only one who posted in the thread lol.