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Will 0% credit card balance hurt my score?

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nvrgvupnvrsrndr
Contributor

Re: Will 0% credit card balance hurt my score?

So there's a chance 0% utilization will hurt my score...really? I just made the 700 club again and paid all off my credit accounts to try and get my score jump up even higher. Do I need to run out today and charge a little something on all my accounts or just have a small balance on one of them? All of my statements generate in the next 1-2 days.
Message 11 of 14
Slab
Frequent Contributor

Re: Will 0% credit card balance hurt my score?

I think that is my question exactly. I know that having a small balance on one card is optimal but how many points can I lose by having all cards report zero balances.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 12 of 14
pizzadude
Credit Mentor

Re: Will 0% credit card balance hurt my score?

Unless you're applying for credit in the immediate future then I wouldn't worry about it right now.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 13 of 14
ztnjpv
Established Contributor

Re: Will 0% credit card balance hurt my score?

To the general question on utilization and credit score, I say this:

 

IME, having something register as a balance on at least one card will positively affect your score vs. having all zeros across the board. Now, beyond something above absolute zero, there's no benefit that I have seen. And the fewer accounts reporting a balance, the better....under most circumstances.

 

If you have 4 cards and show a small balance on one, that's better than a small balance on all of them. 

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 14 of 14
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