Panerai wrote:
I have 3 CCs, 1 BoA and 2 Amex. BoA has $6500 limit, Amex1 has $8500 limit and Amex2 has $2500.
BoA card is completely paid off
Amex1 has $2500 on it
Amex2 has $1000 on it.
I'm trying to understand utilization. How much of each card should I be using monthly to keep in a utilization range that will increase my score?
Ideally, 1-9% on fewer than half your open accounts.
Assuming these are your only accounts (which is unlikely), your ideal utilization would look like:
BoA: $0 balance (0%)
Amex1: $85 - $765 balance (1-9%)
Amex2: $0 balance (0%)
You can also shake it up and change which card reports a balance in a given month, but you should only let one at a time report, and only 1-9% of its limit.
