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Optimal Credit Card Utilization Ratio?

Established Member

Re: Optimal Credit Card Utilization Ratio?

Hey All,


Just providing a quick update. I subscribed for a 3-month membership for my FICO scores and Score watch. Turns out that I have average but not great credit with a score of 690. I'm hoping to get that figure up to 700+ when i pay down my BofA rewards card at the end of this month, or at least get my card utilization ratio to 9% for each of my cards. I'm also heavily considering getting a car loan with my credit union. It would be a $9,000 loan if I choose to take it out.


I'll find out more about my options this weekend.

Starting Score (Average) | Current Score (Average) | Goal Score (Average): 750

Current Credit Cards: BofA Cash Rewards: CL - $9,200 | Chase Freedom: CL - $3,000 | Chase Sapphire Preferred: CL - $9,000 | Delta American Express SkyMiles Card: CL - $16,300 | Goldenwest Credit Union Visa Rewards: CL - $7,500 | Mountain America Credit Union Visa Rewards: CL - $10,000 | RC Willey Credit Card: CL - $3,000 | Synchrony Bank /Cards: CL - $7.000
Total CL: $65,000 | Utilization: 12.13%
Message 21 of 22
Frequent Contributor

Re: Optimal Credit Card Utilization Ratio?

it will be different for everyone, but 1-9% on only one card is ideal

If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin |Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Walmart Mastercard|Commence MC| Citi Double Cash| Amazon Prime Store Card|Discover It|Chase Freedom|Chase Freedom Unlimited|Amex BCE|Wells Fargo Cash Wise|Barclays Cashforward
$85,300 total card credit FICO Equifax-816, FICO Transunion-769, FICO Experian-769, DTI-20.4%
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