how do creditors look at the balance of utilization>

[shane82388]

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@LS2982 wrote:

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@shane82388 wrote:

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@LS2982 wrote:

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@shane82388 wrote:

theres a lot of conflicting info online about this....

spread it out....or zero balances more important.....ive been reading differnt articles all night lol.

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The correct answer is all accounts are to be at $0 except one (preferrably a Bankcard visa/MC/AMEX/Disc.) with a small 1-9% balance. If you need to spread out you util, make sure no card is being utilized more than 10% of its CL (FICO scoring purposes)

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I have my computer with defered financing on my Apple Barclays card which is at about 40% on that card ATM...otherwise im going to pay off the couple hundred I have been letting sit on my Capital One card and ill have about a high 20's to about 30% utilization overall.

Just out of interest in the subject...say i had the computers balance on my barclays ($1492) and another $1000 on my Capital One (haha, yeah right with their limits) would it be smart to spread the capital one out evenly over three other cards (divide by 4 basically) or is the real factor in scoring on the overall utilizations?

obviously im asking in your experience personally because this seems to be up for debate across the internet as theres no hard an fast rule on whats the perfect distrbution of debt among cards, it seems.

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This is where the using 10% of a individual cards CL come into play. I would say it's not a smart move to have 1,000 on the Cap1 card. On the other hand it's not a good idea to have mutiple cards with balances. I would recommend carrying the balance on the Barclays card and having the rest report $0.

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Ok so basically "steady as she goes" is my best bet....

[tcbofade]

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@Anonymous wrote:

...90% is a big score decrease threshold for a single card...

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Hmmm.

Totally out of context, I'll grant you...but you bring an interesting question to mind...well, to MY mind anyway.

Let's justs say (hypothetically, of course) that some poor moron has 30 odd open credit card accounts.

Some have zero balance.

Some have 50%ish balance.

Some are maxed out.  (90% plus...)

Overall util is somewhere around 57%

If this hypothetical person were to carefully adjust next months payments to ensure that NO card exceeded 90% usage, would that result in a score bump?

Just wondering.

For a friend.

Ummm, yeah.

Thoughts?