Multiple cc and store cards with high limits

[AQ]

I've noticed some people here have many, many credit cards with good limits, thus increasing their available credit and thus their score.  Are you all using these cc and store cards every month?  To build credit, how often does a cc or store car need to be used?  After a desired credit score is achieved, does a card have to be used regularly to maintain the score?  (I ask these questions with the implication that, for myself, I would be paying of my balance each month.) 

Can I use a cc once every few months and gain the same benefit as using it monthly?

[Bobert22]

No need to max the limit out each month. Just make sure to use the card every few months so it doesn't end up getting a credit limit decrease or account closure.

Also just keep in mind to have balances reporting on up to 2 cards (this is supposedly maximizes your credit score). Make sure to keep utilization under 9%.

Scores are not only affected my credit utilization, but also payment history, types of accounts, and inquires.

[AQ]

When you say "balances" you don't mean I have to carry over a balance, right?  In other words, I can pay it in full before the grace period, just so long as it shows on my report that I charged something on my cc?  I've heard conflicting things, but the last thing I read on bankrate dot com said there was no need to carry a balance, just pay in full before the finance charges hit. 

With my one cc, I have an auto draft for a monthly bill that comes out, something like 4%. I don't intend on going over 10%, but as you said 9%, perhaps 10% would bump me up into a different category.  I'll keep it below 9%, in that case.

[chnceit]

For me yes I use my Amazon store card every other month some times every month. But I pay them off quickly even though their are 0 percent financing options. 

It reall y doees help utilization a lot. My Amazon card is sitting at $10K and I dont and will not come close to my limit. 

[Bobert22]

1-9% overall total credit utilization is the area to remain in to maximize your credit score. That doesn't mean you will lower your credit score drastically if you were to ever go over 9% total utilization, and in fact you could if you wanted since it would just be a temporary decrease in your credit score. It'll be back up once you decrease util. Also if you don't plan on applying for credit cards or mortgage, there's no need to remain within the 1-9% since that's only important when you're going to apply for something as lenders/banks don't like to see more than 9% utilization.

Also no need to *ever* carry over a balance. I've never carried a balance and always pay in full. Even if you pay in full it still shows up on your credit report that you spent x amount this month on the card. Lenders/banks have no way to determine whether you paid the minimum payment or paid in full.

[AQ]

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@chnceit wrote:

For me yes I use my Amazon store card every other month some times every month. But I pay them off quickly even though their are 0 percent financing options. 

It reall y doees help utilization a lot. My Amazon card is sitting at $10K and I dont and will not come close to my limit. 

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Thanks!

I noticed your "signature."  How did you manage a number that high, if I might ask?

[AQ]

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@Bobert22 wrote:
1-9% overall total credit utilization is the area to remain in to maximize your credit score. That doesn't mean you will lower your credit score drastically if you were to ever go over 9% total utilization, and in fact you could if you wanted since it would just be a temporary decrease in your credit score. It'll be back up once you decrease util. Also if you don't plan on applying for credit cards or mortgage, there's no need to remain within the 1-9% since that's only important when you're going to apply for something as lenders/banks don't like to see more than 9% utilization.

Also no need to *ever* carry over a balance. I've never carried a balance and always pay in full. Even if you pay in full it still shows up on your credit report that you spent x amount this month on the card. Lenders/banks have no way to determine whether you paid the minimum payment or paid in full.

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Thanks!  Yeah, I figure I'll need my credit in a little over a year, for a new (used) car loan. Until then, it's building my score after BK. 

[jamesdwi]

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@Bobert22 wrote:
1-9% overall total credit utilization is the area to remain in to maximize your credit score. That doesn't mean you will lower your credit score drastically if you were to ever go over 9% total utilization, and in fact you could if you wanted since it would just be a temporary decrease in your credit score. It'll be back up once you decrease util. Also if you don't plan on applying for credit cards or mortgage, there's no need to remain within the 1-9% since that's only important when you're going to apply for something as lenders/banks don't like to see more than 9% utilization.

Also no need to *ever* carry over a balance. I've never carried a balance and always pay in full. Even if you pay in full it still shows up on your credit report that you spent x amount this month on the card. Lenders/banks have no way to determine whether you paid the minimum payment or paid in full.

Not true, if you look at your EX report it lists prior payments, and if they aren't little most likely other lenders can tell its not a minimum payment. They can also see current balance so they can get a good idea on your recent payments, and if they pull ex they can have multi-month payment history, and if are responding to an offer the same can be figured out via a history of SP's over time.