Will Increasing Utilization % Bump Score?

John060675 · ‎06-08-2011

I am currently at 0% credit utilization. What do you think will happen if I let one card report a balance this month, which will put my utilization at 2%? A positive bump in score or a negative bump in score?

Thank you.

Starting Score: 583 EQ, 612 EX, 569 TU
Current Score: 658 EQ, 648 EX, 618 TU
Goal Score: 720 EQ, 720 EX, 720 TU

Take the myFICO Fitness Challenge

MarineVietVet · ‎06-08-2011

@John060675 wrote:
I am currently at 0% credit utilization. What do you think will happen if I let one card report a balance this month, which will put my utilization at 2%? A positive bump in score or a negative bump in score?

Thank you.

I would expect a score increase. From reading many posts here it seems like FICO will ding for all zero balances. But as always YMMV.

Let us know what happens when that 2% reports.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

John060675 · ‎06-09-2011

Thanks for the thought. I will try it and see. They will report later this month, so I will see what happens to my score.

Starting Score: 583 EQ, 612 EX, 569 TU
Current Score: 658 EQ, 648 EX, 618 TU
Goal Score: 720 EQ, 720 EX, 720 TU

Take the myFICO Fitness Challenge

Anonymous · ‎06-09-2011

According to the my FICO score feedback, the 'top performers' use an average of 7% of their total credit limits.

Anonymous · ‎06-09-2011

@Anonymous wrote:
According to the my FICO score feedback, the 'top performers' use an average of 7% of their total credit limits.

It's just an average ~ individually ~ it caould be 1%, it could be 10%.