reported util question

[rootpooty]

This is something that goes back and forth with some of us here and i just want to be clear for my understanding and the newcomers and for those who dont know. my case for example, i pay in full my balances every month and dont really care about the reported balance so between 4 cc's my available credit is only 2,000 so for the past 10 mos since i started building credit i guess you could say the reported util would be high but i do PIF those balances. Now last month and this month too im trying to maximize my scores and seeing what fits me best cause i plan to do some apping in nov. Last month I let 9% util report this month ill shoot for around 7-8%.  So I guess my question would be is it ok what im doing cause lately members are suggesting to others to make sure your reported util is under 10% every month and I dont feel that is necessary unless you want max fico scoring for that month and or plan to app to make yourself look the best.

Thoughts? Suggestions are welcome!

[jamesdwi]

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@rootpooty wrote:

This is something that goes back and forth with some of us here and i just want to be clear for my understanding and the newcomers and for those who dont know. my case for example, i pay in full my balances every month and dont really care about the reported balance so between 4 cc's my available credit is only 2,000 so for the past 10 mos since i started building credit i guess you could say the reported util would be high but i do PIF those balances. Now last month and this month too im trying to maximize my scores and seeing what fits me best cause i plan to do some apping in nov. Last month I let 9% util report this month ill shoot for around 7-8%.  So I guess my question would be is it ok what im doing cause lately members are suggesting to others to make sure your reported util is under 10% every month and I dont feel that is necessary unless you want max fico scoring for that month and or plan to app to make yourself look the best.

Thoughts? Suggestions are welcome!

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FIco scores and credit scores are point in time,  get UTL in control (on reports) before you AP and that is all that counts for UTL,  the month before you could be at 50% UTL it doesn't matter just what is currently reporting. The way to get the best score is pay all cards to 0, and allow one card to report less than 9%. 

[LOC]

Good direction. thank you

[bettercreditguy1]

Ditto for your Fico score. It is not really needed until you need new credit or an installment loan. However, it is best to keep it well oiled as those surprise needs popup!

[Quips]

I agree that as long as you are not planning on applying for any new credit, then I would make sure I PIF (to avoid interest) and let the scores fall where they may. If you are planing on applying for credit, then keeping your total util under 10% and not having too many cards report balances will help maximize your FICO scores. I manage my credit the same way - PIF the statement balance by the due date - recently I worked to maximize my scores as i just finished refinancing my house so I was a little more diligent in making sure many of my cards reported a 0 balance and my Util was in the 7-8% range.