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Monthly FICO update. Do I pay everything off to increase-or leave a little revolving?

Brucefontaine1
Established Member

Monthly FICO update. Do I pay everything off to increase-or leave a little revolving?

Not so much off a 13 BK, but it was discharged in December 17.  I have four cards, the highest of $550.

I only owe $350 on one. Do I pay it off, or leave a little to revolve? I'm trying HARD to raise my score, and it's very frustrating. I earn $83,000 per year and I feel like a jerk for putting myself in that hole. Trying to dig out. Please advise me the correct way to raise it as much as possible?

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SouthJamaica
Super Contributor

Re: Monthly FICO update. Do I pay everything off to increase-or leave a little revolving?


@Brucefontaine1 wrote:

Not so much off a 13 BK, but it was discharged in December 17.  I have four cards, the highest of $550.

I only owe $350 on one. Do I pay it off, or leave a little to revolve? I'm trying HARD to raise my score, and it's very frustrating. I earn $83,000 per year and I feel like a jerk for putting myself in that hole. Trying to dig out. Please advise me the correct way to raise it as much as possible?


Pay it off. Don't leave anything to "revolve".

 

To optimize your scores, have 3 cards report zero balance, and let 1 card report a small balance (less than 9% of the limit) -- which you then pay off after the statement cuts.

 

 


Total revolving limits 678000 (585000 reporting) FICO 8: EQ 745 TU 750 EX 719

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Dinosaur
Moderator Emeritus

Re: Monthly FICO update. Do I pay everything off to increase-or leave a little revolving?

Poster SouthJamaica pretty well hit the nail on the head. Much experience with that poster and I can confirm following similar advice and my scores showed the benefits.
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