Will be applying for an auto loan soon and am confused on whether to have cards have a low statement balance (to show they are being used) or to pay them before the statement date so they show no balance on the statement (thus having less accounts showing balances). I've read a lot that says having a small statement balance (below 10%) and paying it in full to not be charged interest shows you are using your credit. 0% statement balance makes it look like it's not being used and can lower your score. But I also am noticing a credit factor of having too many accounts with balances. I have four credit cards- one just posted a statement at 4% utilization and will have that when I apply for the loan, one I am working to pay off but when I apply for a loan will likely be around 27% utilization, and then have two accounts I can manipulate before I apply for the loan. If I just let the current balances post to statement one will be 0.5% utilization and the other will be 3% utilization. Should I let those post and then pay in full? Or should I pay them off before so their balances show as 0%? Additionally have $10,000 in student loans, but they show up as a lot of multiple loans (carrying balances) and so I'm not sure if even those two credit card accounts being 0% will make much of a difference (with 2 CC's and a lot of student loan accounts showing balances). Thanks for your help!
