@Anonymous wrote:
I know this question has been answerd somewhere before I am sure.
My question is is there any effect if you use more then one credit card per month. Say for example. I use my chase freedom and chase sapphire in the same month still using under 30% on each. Is it ok to have them both report a balance per cycle or should you only use one card per month? Sorry if this is a dumb question i just remember reading somewhere how many accounts being used per month?
Thanks for the help!
I believe you're confused by the term "let them report a balance". People advocate paying your balance prior to the statement becoming available to optimize your credit score. However, this should only be good for a few ticks in your score either way. If you have two cards you want to use, use them. Just remember to PIF every month and long-term your credit score will improve.
If you're looking to optimize your credit score, whether it be for an app or otherwise, yes you're going to want 3-4 cards. Pay off all but one card before statement cuts.
For that one remaining card, pay off all but 1-9% of the remaining balance before the statement cuts. You should then have optimized your scores from a utilization aspect. Remember, utilization is fluid. Doing this optimizes your score for that particular month. It is completely unnecessary unless you have impending applications which you would like to pull the trigger on (ideally, start the process 2-3 months ahead of time.)
