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Established Member
AllTheNationsWillMournUSA
Posts: 15
Registered: ‎11-03-2007
0

Optimal ? My question is>

[ Edited ]
In relation to Credit cards: Optimal utilization being between 1% and 4%. What If I kept it under 1% and above 0% at all times?
                                 
          
   Will it hurt?
   
   Will it help?
 
   Will it make no difference?            
 
 
                                                ALSO:
 
 
 
 Same question as above in relation to checking account overdraft protection?
 
  Will it hurt?
 
  Will it help?
 
  Will it make no difference?
 
 Thank you in advance.                                  






Message Edited by AllTheNationsWillMournUSA on 11-04-2007 09:55 AM
What I sow,I will reap,as an indivdual,group,township,
city,county,state,COUNTRY.Look at rome.It is not a matter of IF but WHEN Its coming and Im not ready.
What a truly sad end to a way of life as I once knew it.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Optimal ? My question is>

I don't think anyone knows for certain the answer to your 1-9 or under 1 utilization on CC debt. Checking accounts don't count. BTW your name and siggy are quite depressing.
Established Member
AllTheNationsWillMournUSA
Posts: 15
Registered: ‎11-03-2007
0

Re: Optimal ? My question is>

 No one knows about this question?
 
  Unfortunately reality can be depressing.
What I sow,I will reap,as an indivdual,group,township,
city,county,state,COUNTRY.Look at rome.It is not a matter of IF but WHEN Its coming and Im not ready.
What a truly sad end to a way of life as I once knew it.
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: Optimal ? My question is>

[ Edited ]
It would take someone with otherwise unchanging credit who would be willing to let the 1-9% post, note the scores, then let under 1% post and again note any score change. Not to mention the option of having 0% post. Maybe you could volunteer to do this, and post the results.

That's the only way that we can figure out a lot of things around here. It's the original scientific method, I suppose.

Message Edited by haulingthescoreup on 11-04-2007 10:00 AM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Optimal ? My question is>

The irony is what difference does your FICO score mean if we face TSHF scenario? Party on Garth. :smileywink:
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: Optimal ? My question is>

Fico does like to see "recent activity" on cards.  I am guessing that means that one card at least needs to report a balance every time FICO "looks" at your CRA.
 
Add to that, it is wise to use every card at least once a year, to stop the company making it dormant (and if you reactivate it, they might well do a hard pull).
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Moderator Emeritus
fused
Posts: 16,374
Registered: ‎03-12-2007
0

Re: Optimal ? My question is>



AllTheNationsWillMournUSA wrote:
In relation to Credit cards: Optimal utilization being between 1% and 4%. What If I kept it under 1% and above 0% at all times?
                                 
          
   Will it hurt?
   
   Will it help?
 
   Will it make no difference?            
 
 
                                                ALSO:
 
 
 
 Same question as above in relation to checking account overdraft protection?
 
  Will it hurt?
 
  Will it help?
 
  Will it make no difference?
 
 Thank you in advance.                                  


Message Edited by AllTheNationsWillMournUSA on 11-03-2007 03:38 AM

Message Edited by AllTheNationsWillMournUSA on 11-03-2007 04:20 AM

You might see max FICO points with regard to revolving util% calculations but it really depends on your scores and which scoring bucket you're in. As for overdraft protection, it's usually reported as a revolving TL so treat it the same way you would with a CC TL and keep util at zero or no higher than 9%. 
Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Established Member
AllTheNationsWillMournUSA
Posts: 15
Registered: ‎11-03-2007
0

Re: Optimal ? My question is>

[ Edited ]
My monthy cc's expenses have me under 1% and I have no other expenses I can add on them to bring it to 1% - 4%.So unless I waste money and "make up" expences to add on to the cc's to bring it to 1%-4%( and thats not an option) I will need to lower my credit  limits. Will lowering my credit limits hurt my score? Thats why I was asking and hoping that optimal utlz. IS BETWEEN .0000001% - 4% and NOT BETWEEN 1% - 4%. Im pretty sure lowering my limits will HURT my score because it will affect my past history high utlz.  Right now, My high utlz. history is at 25% ,lowering my limits to reach stated goals will easily bring it over 50% high history utiz. So I might be powerless to do anything about it.










Message Edited by AllTheNationsWillMournUSA on 11-04-2007 09:30 AM
What I sow,I will reap,as an indivdual,group,township,
city,county,state,COUNTRY.Look at rome.It is not a matter of IF but WHEN Its coming and Im not ready.
What a truly sad end to a way of life as I once knew it.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Optimal ? My question is>



AllTheNationsWillMournUSA wrote:
My monthy cc's expenses have me under 1% and I have no other expenses I can add on them to bring it to 1% - 4%.So unless I waste money and "make up" expences to add on to the cc's to bring it to 1%-4%( and thats not an option) I will need to lower my credit limits. Will lowering my credit limits hurt my score? Thats why I was asking and hoping that optimal utlz. IS BETWEEN .0000001% - 4% and NOT BETWEEN 1% - 4%. Im pretty sure lowering my limits will HURT my score because it will affect my past history high utlz. Right now, My high utlz. history is at 25% ,lowering my limits to reach stated goals will easily bring it over 50% high history utiz. So I might be powerless to do anything about it.










Message Edited by AllTheNationsWillMournUSA on 11-04-2007 09:30 AM


Leave it the way it is you should be OK.
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: Optimal ? My question is>



AllTheNationsWillMournUSA wrote:
My monthy cc's expenses have me under 1% and I have no other expenses I can add on them to bring it to 1% - 4%.

If your mortgage/rent, food, gas, auto, clothes and entetainment come to less than 1% of your credit limit, then presumably your CL is so high that I don't think it matters!  :smileyhappy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

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