utilization?

[Anonymous]

I have 2 cards. Cap one platinum 750 limit and a walmart discovery 1000 limit. What would be a good balance to be reported for each of my cards? And do they combine the balance to get your utilization rate at the end of the month?

[Swapmeet]

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@Anonymous wrote:
I have 2 cards. Cap one platinum 750 limit and a walmart discovery 1000 limit. What would be a good balance to be reported for each of my cards? And do they combine the balance to get your utilization rate at the end of the month?

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0 on one and less than 157 on the other. They do both combine for your util, but I've read here that it is optimum to carry a small balance (under 9%) on only one card.

[bs6054]

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@Anonymous wrote:
I have 2 cards. Cap one platinum 750 limit and a walmart discovery 1000 limit. What would be a good balance to be reported for each of my cards? And do they combine the balance to get your utilization rate at the end of the month?

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Total utilization is the sum of the balances over the sum of the credit lines, and this ideally is kept < 10%, but the utilization on each individual card should also be not too high.  Many here suggest that you have only one card report a balance, and that about 9%, so following that model, have Cap One report 0 and a balance of about $90 on discover.

But depending where your scores are, you don't need to be over-precise about that.

[Anonymous]

To Ps6054....My score was 734 but after 3 inquires this month and the added account it dropped to 704.

[chnceit]

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@bs6054 wrote:

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@Anonymous wrote:
I have 2 cards. Cap one platinum 750 limit and a walmart discovery 1000 limit. What would be a good balance to be reported for each of my cards? And do they combine the balance to get your utilization rate at the end of the month?

---

Total utilization is the sum of the balances over the sum of the credit lines, and this ideally is kept < 10%, but the utilization on each individual card should also be not too high.  Many here suggest that you have only one card report a balance, and that about 9%, so following that model, have Cap One report 0 and a balance of about $90 on discover.

But depending where your scores are, you don't need to be over-precise about that.

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+1

For some lenders you cannot get approved for their CC if your credit report shows balances of $0 like CITI even if your high balance is not close to your CL some lenders look at it as not utilizing your current credit. 

Some on here like me report a high balance on a few credit cards then pay it off right after the statement closes to show usage.   

[youngandcreditwrthy]

Keep it as low as possible! But keep 'em active. I'd say def stay under 30% total on all lines....
But aim for <10% for optimal scoring...