utilization question

tbea1004 · ‎04-12-2015

I am under %30 utilization which I think is good. My question is if I get it lower than that say mayber %10 will it make my score jump?

gdale6 · ‎04-12-2015

If you get that down on one card only yup you will see a Fico score rise

Anonymous · ‎04-12-2015

@tbea1004 wrote:
I am under %30 utilization which I think is good. My question is if I get it lower than that say mayber %10 will it make my score jump?

Yes.. You will see a bump..

tbea1004 · ‎04-12-2015

@gdale6 wrote:
If you get that down on one card only yup you will see a Fico score rise

Would it be better for me to get it down for all three cards?

Anonymous · ‎04-12-2015

If you bring it to under 10% total util you will see a big jump.

Anonymous · ‎04-12-2015

@tbea1004 wrote:
@gdale6 wrote:
If you get that down on one card only yup you will see a Fico score rise

Would it be better for me to get it down for all three cards?

For the greatest score optimization, keep one card at 1-10% utilization, and pay the rest of your cards off completely.

While you can spread out the 10% across all three cards, you'll lose points for using too many of your available tradelines (even though they'll be small amounts, it's a negative to use most all of your open tradelines.)

Anonymous · ‎04-12-2015

right now my utilization is 5% , in the next update im waiting a better score.

Anonymous · ‎04-12-2015

@Anonymous wrote:
right now my utilization is 5% , in the next update im waiting a better score.

me too.. i will be at 4% with only 1 card reporting a bal and under 10%.

seems like the wait is forever but I want every possible point
before I app spree

gdale6 · ‎04-12-2015

@Anonymous wrote:
@Anonymous wrote:
right now my utilization is 5% , in the next update im waiting a better score.
me too.. i will be at 4% with only 1 card reporting a bal and under 10%.
seems like the wait is forever but I want every possible point
before I app spree

Why spree with such nice Ficos. I would only open 2-3 every 6 months to minimize the score damage.

Anonymous · ‎04-13-2015

@gdale6 wrote:
@Anonymous wrote:
@Anonymous wrote:
right now my utilization is 5% , in the next update im waiting a better score.
me too.. i will be at 4% with only 1 card reporting a bal and under 10%.
seems like the wait is forever but I want every possible point
before I app spree
Why spree with such nice Ficos. I would only open 2-3 every 6 months to minimize the score damage.

Sorry for me SPREE is 3 cards spread accross 3 CA (for HPS) that I will actually USE.

My freedom promo is running out and I do carry some balance so I'll use my new amex promo for that.

My sister and friend are adding me to their Chase/AU do that should offset 2 of the new cards (Below)

SM (daily) , Amex (promo BT) , PenFed (to est rel with them)

In 6 mo I will probably join DCU because of their low rate loans.. but that is it.

Thoughts?

Hmm... should I wait 6 mo for the pen Fed card? I already joined ...but my profile wasnt perfect at the time.

I didnt have all bal 0 except 1 under 10 UTI. I was getting this as I was going to travel this year abroad
but I don't thiinkkk i'ts going to happen but still might. It has no foreign transaction fees.

Right now my only non store cards are amazon chase (which isnt a daily) and Chase Freedom (current daily) with high % after
promo ending soonish.