Re: To Pay or Not to Pay, that is the Question..
01-22-2013 12:16 PM
Ok, so I imagine this question has been asked over a 1,000 times but I keep reading something different. Can someone please explain to me the difference of paying a cc completely to 0 or leaving 9% utilization on it? I have never let the balance go to 0 in fear of not having reoccurring account (OK) on my credit. Do I pay them completely off or leave them with a really low balance? Thanks in advance!
That depends what you want to do! If you have multiple cards, many people like to pay off the accounts to 0 while leaving one account with a 1-9% utilization amount over their total credit lines, in order to really maximize their scores.
If you're not planning on apping for anything anytime soon, this really isn't necessary. Feel free to have a small balances on whatever you want!
FICOS: EX 756 EQ 735 TU 752 VantageScore 3.0: EX 741 EQ 744 TU 745 Credit Sesame (EX) 748 Credit.com (EX) 792 CapOne (TU) 787 Quizzle (EQ) 749