@Skippy101 wrote:Question #1 - I see all this talk about credit ult not going over 25-30%? So is that per card or say if you have two cards is that combined % for both?
Question #2 do I want to make sure both cards are paid full each month or so I want to keep a small balance on only.one of them? Pro’s and cons?
It's optimal to
-pay in full each month;
-let one card report a small balance before paying it off while the other reports a zero balance
-keep individual revolving account utilization to 28% or lower, and aggregate revolving account utilization to 6% or less.
@Skippy101 wrote:Question #1 - I see all this talk about credit ult not going over 25-30%? So is that per card or say if you have two cards is that combined % for both?
Question #2 do I want to make sure both cards are paid full each month or so I want to keep a small balance on only.one of them? Pro’s and cons?
1. Forget "all this talk"; most of the stuff you read on the internet about revolving account utilization, written by financial pundits, is just wrong. They often give a guideline of 30% for aggregate utilization, but 30% is bad, not good, you lose a lot of points at 30%.
2. Utilization is based on reported balance, which is usually but not always the statement balance.
3. You don't want to "keep" a balance on any card.
4. If you have 2 cards it's best to let one report a zero balance while the other reports a small balance that you then pay off after it's reported.
5. As a general rule your individual account utilization should be 28% or less.
6. Your aggregate revolving utilization should be as low as possible. Optimum would be 6% or less.
@Skippy101 wrote:So a 6 month update
#1 both cards are still secured
#2 no missed payments always on time
#3 no new baddies I even removed all of them besides 1 it's at 6yr 10mo
#4 I was able to get a brand new 2022 at 3.2%
Congratulations.
Even though you started this thread about utilization and scores, you don't mention your utilization or your scores.