Frequent Contributor
money_talks
Posts: 261
Registered: ‎07-02-2013
Util under 9% when applying

I know you achieve the best FICO score when you report a balance on all but one CC and let that balance be under 9%. My question is, is there a big difference from say 9% balance reported to a 1% balance reported?

 

I plan on applying for a CC soon and don't want to pay to go below 9% if it is not worth it.

Moderator
09Lexie
Posts: 26,593
Registered: ‎09-13-2012
Re: Util under 9% when applying
The exact figure will be different for each credit profile. My sweet spot is actually 7% but apping at 12-15% has not harmed my chances of approval with the best terms.
Frequent Contributor
money_talks
Posts: 261
Registered: ‎07-02-2013
Re: Util under 9% when applying

Thanks 09Lexie. I guess I wil have to do some experimenting in the future to see what my sweet spot is. For now I will apply with util at 9%.

Moderator
09Lexie
Posts: 26,593
Registered: ‎09-13-2012
Re: Util under 9% when applying
Established Contributor
tonyjones
Posts: 527
Registered: ‎04-22-2013
Re: Util under 9% when applying

So if you have four CC. You want a balance on one card only at let's say 8% and the rest be at 0%? 


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Moderator
09Lexie
Posts: 26,593
Registered: ‎09-13-2012
Re: Util under 9% when applying
@tonyjones

Yes, though the 1-10% can vary based on your profile.