topic Re: CC Utilization Question in Credit Cards

CC Utilization Question

mathman — Sat, 14 Dec 2013 01:47:25 GMT

Hi all,

I have a question regarding CC utilization. I've heard two different schools of thought here, and I'd like to know which is true. When attempting to get the highest possible FICO score in the util category, do we have to have BOTH under 10% overall utilization and less than 10% utilization on only one card, or is it just less than 10% of overall utilization?

I've seen different posts here that say different things, and I'm wondering what's true?

Thanks much!

Re: CC Utilization Question

myjourney — Sat, 14 Dec 2013 01:51:04 GMT

10% one card reporting all the rest $0

Re: CC Utilization Question

Anonymous — Sat, 14 Dec 2013 01:51:07 GMT

Ideally one card under 10%. All other at 0. YMMV to some extent, but that's the general consensus

Re: CC Utilization Question

b1gr3dmachin3 — Sat, 14 Dec 2013 01:55:10 GMT

@Anonymous wrote:
Ideally one card under 10%. All other at 0. YMMV to some extent, but that's the general consensus

Just another question to go along with the OP's question, if you have multiple cards should you rotate which one reports a balance so each one does so every few months or just keep letting the same one report?

Re: CC Utilization Question

myjourney — Sat, 14 Dec 2013 02:04:22 GMT

@b1gr3dmachin3 wrote:
@Anonymous wrote:
Ideally one card under 10%. All other at 0. YMMV to some extent, but that's the general consensus
Just another question to go along with the OP's question, if you have multiple cards should you rotate which one reports a balance so each one does so every few months or just keep letting the same one report?

Some don't but I do switch every month...

unless i'm in a 0% promo then that card will be the reporting card until the balance is paid .....make sense?

Re: CC Utilization Question

b1gr3dmachin3 — Sat, 14 Dec 2013 02:19:48 GMT

@myjourney wrote:
@b1gr3dmachin3 wrote:
@Anonymous wrote:
Ideally one card under 10%. All other at 0. YMMV to some extent, but that's the general consensus
Just another question to go along with the OP's question, if you have multiple cards should you rotate which one reports a balance so each one does so every few months or just keep letting the same one report?
Some don't but I do switch every month...
unless i'm in a 0% promo then that card will be the reporting card until the balance is paid .....make sense?

Yup, makes sense. Is there a reason why you switch every month? Any advatanges or credit companies like when you let their card report or something?

Re: CC Utilization Question

myjourney — Sat, 14 Dec 2013 02:54:30 GMT

@b1gr3dmachin3 wrote:
@myjourney wrote:
@b1gr3dmachin3 wrote:
@Anonymous wrote:
Ideally one card under 10%. All other at 0. YMMV to some extent, but that's the general consensus
Just another question to go along with the OP's question, if you have multiple cards should you rotate which one reports a balance so each one does so every few months or just keep letting the same one report?
Some don't but I do switch every month...
unless i'm in a 0% promo then that card will be the reporting card until the balance is paid .....make sense?
Yup, makes sense. Is there a reason why you switch every month? Any advatanges or credit companies like when you let their card report or something?

I switch so everyone is shown love

Meaning when my history on CR's is reviewed it reflect i'm using them all and managing all TL's effectively

Re: CC Utilization Question

FinStar — Sat, 14 Dec 2013 08:17:17 GMT

@myjourney wrote:
@b1gr3dmachin3 wrote:
@myjourney wrote:
@b1gr3dmachin3 wrote:
@Anonymous wrote:
Ideally one card under 10%. All other at 0. YMMV to some extent, but that's the general consensus
Just another question to go along with the OP's question, if you have multiple cards should you rotate which one reports a balance so each one does so every few months or just keep letting the same one report?
Some don't but I do switch every month...
unless i'm in a 0% promo then that card will be the reporting card until the balance is paid .....make sense?
Yup, makes sense. Is there a reason why you switch every month? Any advatanges or credit companies like when you let their card report or something?
I switch so everyone is shown love
Meaning when my history on CR's is reviewed it reflects i'm using them all and managing all TL's effectively

This becomes practical when your have a decent mix of TLs, especially CCs.