maximum score from utiliization standpoint

[longclimbback]

I'm trying to discover what my high score is when I tweak the factors that are in my power. I have 4 credit cards. I just paid off 3 of them. For maximum score, should I let $0 report on my next statement or leave a token balance on the other card. I looked through some old posts got  mixed answers. Any fresh thoughts would be appreciated.

[MarineVietVet]

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@longclimbback wrote:

I'm trying to discover what my high score is when I tweak the factors that are in my power. I have 4 credit cards. I just paid off 3 of them. For maximum score, should I let $0 report on my next statement or leave a token balance on the other card. I looked through some old posts got  mixed answers. Any fresh thoughts would be appreciated.

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Hello and welcome to the forums.

It's hard to give a one size fits all answer to maximum score tweaking but there are several different things you might try over the course of a few months to see what works best for you. I often give this advice:

Optimal credit utilization for FICO scoring purposes seems to be:
Total revolving and individual utilization > 0 and < 9%, the lower the better, and
Reporting a balance on less than half of your revolving TL's, and
Reporting a balance on half or less of all TL's.

Other posters recommend that only one card report a small (1-9% of credit limit) balance each month and let any other cards always report a zero balance on the monthly statements. Try each technique and other suggestions you might receive and determine your most successful strategy.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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[RobertEG]

Marinevet has hit the important criteria.

I will only supplement his advice with what Fair Isaac has said in the past about how revolving credit is scored.

They have stated that approx 1/2 of your revolving credit usage is scored on overall % util, and the other half on the combined effects  of all the individual cards.

Combined affects of individual cards is determined by both the % util of each card, and on the % of cards carrying a balance.

While FICO does not break this down in any more detail, here is what I take their statements to roughly mean on a CR having 4 revolving accounts:

50% of scoring on combined, overall % util (that is, 50% of 255 possible points)

Approx 10% each on the % util of each individual card (together accounting for 40%)

Approx 10% on the % of cards carrying balances (1 card out of 4 would be 25%).

So, generally, this would mean to me that extreme fine tweaking on the number of accounts reporting balances is not that significant.