12-18-2012 10:59 AM
I have 4 credit cards
3 regular and 1 amex charge card
i want to buy next month a car and I want to maximize my FICO score
i was told that the best is to have under 9% UTI and have only 1 card report a balance
usually I like to keep one of my 3 regular cards report a balance and have my charge card report 0 because it doesn't count towards UTI
this month for some reason I forgot oti pay off my charge card before the statement cutoff date so I have a balance on it
know my question is should I pay report My 3 other cards as 0 ? This will get me to 0% UTI
Or do I keep 1 with a balance and then I will have 2 cards report a balance (1 revolving card and 1 charge card) ?
12-19-2012 03:23 PM
I think the magic utlization ratio is 2%. Hit that while keeping the balance of all but one cards at zero.