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Valued Member
Posts: 46
Registered: ‎02-12-2013
0

Change in Utilization

Hello credit gurus,

 

I am currently in the process of truly starting my homebuying journey. My scores are at a point where I believe I can really make this happen. I have my utilization at 1% (rounded up). However, I have heard the having utilization at about 9% can truly maximize my scores rather than being closer to 0%. I basically have all my cards at $0 and one card @ $1. Is it better to let one of my cards reach 9%, or my entire utilization at 9%? Is 9% really a sweet spot or is this all wild speculations.

 

Please chime in!


Starting Score: EQ 612 (CU Lender Pull) 03-2012
Current Score: EQ 679 TU 697 (Lender Pull) EX 668 (Lender Pull)
Goal: Reach the 700+ Club!!!


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Contributor
Posts: 97
Registered: ‎01-14-2013
0

Re: Change in Utilization

Their's a guy on here that has scores in the 800's--he said the sweet spot is 2% on your biggest card and 0 on all the rest.  I tried this and my score went up over 30 points to 778--hope this helps!

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current scores: TU 761 Equifax 773Exp 742
Moderator
Posts: 13,897
Registered: ‎04-15-2011
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Re: Change in Utilization

My sweet spot is one card reporting 4%.   It just takes some time and some tinkering to figure it out.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Member
Posts: 46
Registered: ‎02-12-2013
0

Re: Change in Utilization

So here's my next question, does the type of credit card (retail credit, etc) that has the balance factor in at all?

Starting Score: EQ 612 (CU Lender Pull) 03-2012
Current Score: EQ 679 TU 697 (Lender Pull) EX 668 (Lender Pull)
Goal: Reach the 700+ Club!!!


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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Change in Utilization

Seems like former mod, psychic, did an experiment by letting a store charge report vs. a revolving CC. I honestly can't remember the results though. Probably not much help.

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