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Zero balance or 9% Ulti for one card?

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MountainHiker
Established Contributor

Zero balance or 9% Ulti for one card?

I have one credit card.Is it better to pay it off fully for maximum credit scores or keep the balance at 9% for the billing statement? Curious to know if the 9% ulti rule apply to people with only one credit card.

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Message 1 of 7
6 REPLIES 6
jamesdwi
Valued Contributor

Re: Zero balance or 9% Ulti for one card?

somewhere between 1-9% on one card is ideal, I Would pay it down and leave 1% showing. 

 

 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 2 of 7
android01
Valued Contributor

Re: Zero balance or 9% Ulti for one card?

There has been a maximum effect on my FICO scores when 1% utilization has reported.  YMMV.

EQ Fico 8 - 850
TU Fico 8 - 850
EX Fico 8 - 850
Message 3 of 7
Crashem
Valued Contributor

Re: Zero balance or 9% Ulti for one card?

Ideal would be to get 2 more cards.

               LIMITS IN CARD DESCRIPTIONS
Message 4 of 7
LS2982
Mega Contributor

Re: Zero balance or 9% Ulti for one card?


@MountainHiker wrote:

I have one credit card.Is it better to pay it off fully for maximum credit scores or keep the balance at 9% for the billing statement? Curious to know if the 9% ulti rule apply to people with only one credit card.


What does your file look like? It's better FICO scorewise to have 3 CC's reporting 1 of them with a 1-9% balance and the others zeroed out.

 




EQ FICO 548 3/3/16
Message 5 of 7
iMacDrew
Frequent Contributor

Re: Zero balance or 9% Ulti for one card?


@Crashem wrote:

Ideal would be to get 2 more cards.


+1 and carry a 1-9% uti on one card and have 2 others paid in full. 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Message 6 of 7
MountainHiker
Established Contributor

Re: Zero balance or 9% Ulti for one card?


@Crashem wrote:

Ideal would be to get 2 more cards.


Crashem,LS & everyone else.

I had no idea that having three cards compared to two cards influences a credit profile. Do you think it better to apply for the two cards on the same day or spread the time out between apps? 

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Message 7 of 7
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