From 1% to 0% util

[Anonymous]

So I lost 12 points on TU and the only differences on my report is cc util aside from new payments posting on loan TL's. I know its said to keep it between 1-9% but wow....lol....12 points...oh well. At least now i know to NEVER let util hit 0% again....

[smallfry]

Same thing happened to me. Easily fixed though isn't it?

[haulingthescoreup]

At some point, we all give this a try, lol.

[Uborrow-Upay]

+1

[Anonymous]

+ 1

Unless you are shopping new credit, I wouldn't sweat the 12 points.  If you are planning to app, then tweak by letting a small balance report.

[cobra19]

Unfortunately, you have to do some experimenting to find that "perfect" utility for you. Think there was a rather lengthy thread about this last summer. 1-9% doesn't work for everyone. I know that if I go above 3%, I get dinged hard. If I go to 0% I get dinged. Dinged if you do, dinged if you don't.

Others reported they could go to 6% before they got hit. There is no "magic" number - I used to think it was score dependent, but evidently not.

[Anonymous]

There are also numerous factors for this percentage calculation:

1.  Total percentages

2.  Individaual account/cc percentages

3.  Real dollar amount of the debt (the higher the dollar amount, the lower the percentage you get dinged)

4.  Number of accounts reporting a balance in relationship to the percentages of utilization

5.  Age of accounts (it seems that new accounts have lower thresh holds for utilzation than aged)

6.  Total AAoA

7.  Number of accounts

8.  Bucket (you are graded on all factors based upon bucketing)

Basically breadth and depth, age, total uti, individual ut, number of accounts, number of balances, bucket etc. all play a role in how uti on your CR is affected.

This is why 1% works for some, others up 9% and others seem to have very little affect as long as they stay below 20% (usually some effect but not monumental).

[Anonymous]

I'm in the same situation.  My reports are currently < 1% utilization but I just went ahead and paid to put them at 0%.  Should I adjust this to keep a few dollar balance?

I just hit the 700 mark (EQ: 700, TU: 715) and I don't want to take any hits to go below.

EQ: 700 (8/9/2009)
TU: 715 (8/3/2009)

Message Edited by Cyan007 on 08-10-2009 04:57 PM

[haulingthescoreup]

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Cyan007 wrote:

I'm in the same situation.  My reports are currently < 1% utilization but I just went ahead and paid to put them at 0%.  Should I adjust this to keep a few dollar balance?

I just hit the 700 mark (EQ: 700, TU: 715) and I don't want to take any hits to go below.

EQ: 700 (8/9/2009)
TU: 715 (8/3/2009)

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IF you want to maximize your scores, have all cards report $0 except for one. Let that one report $10-20, and then pay it off before the due date, so as to avoid any APR's.

This is if you are concentrating on optimizing your scores. As you just broke 700, I can completely understand not wanting to have them drop back into the 600's, whether you plan to apply any time soon or not.

[Anonymous]

Thanks... I'll do that to optimize my score.