topic Re: Utilization question and clarification in Rebuilding Your Credit

Utilization question and clarification

RBFool — Mon, 04 Aug 2014 17:11:03 GMT

I know that you ideally over 3 cards you want 2 to report 0% and 1 to report 9%. Here is my quesiton:

The utilization 9% does that matter that I hit it every month? I'm confused because it has no memory... So does that mean if I leave it at 30% for 10 month then at the 11 and 12th month make it 9% to app spree. Is that ok? Or will my score go up more per month if left at 9% monthly for a year?

Re: Utilization question and clarification

Anonymous — Mon, 04 Aug 2014 17:13:58 GMT

i thought you were supposed to use all your cards at 1-9%? i don't know im still learning.

Re: Utilization question and clarification

RBFool — Mon, 04 Aug 2014 17:18:55 GMT

@Anonymous wrote:
i thought you were supposed to use all your cards at 1-9%? i don't know im still learning.

Optimal FICO scoring is 3 (or so) cards. 2 at 0% and 1 at 1-9%. Something about shows that you can handle the debt and don't need all of your CLs in use.

Re: Utilization question and clarification

Anonymous — Mon, 04 Aug 2014 17:36:44 GMT

@RBFool wrote:
@Anonymous wrote:
i thought you were supposed to use all your cards at 1-9%? i don't know im still learning.
Optimal FICO scoring is 3 (or so) cards. 2 at 0% and 1 at 1-9%. Something about shows that you can handle the debt and don't need all of your CLs in use.

Thank you for clarifying that for me.

Re: Utilization question and clarification

gdale6 — Mon, 04 Aug 2014 22:11:32 GMT

You really only need to do this when you are going to app for more credit. To find the Fico sweet spot for you, you will need to let 1 card report the 1-9% of its CL and change the percentage monthly until you find the best percentage for you and your profile.