credit utilization?

[creditchick]

I know it is not recommended to keep your credit utilization at 0% so what percentage do you all reccomend? I have a clean credit history, no late payments, missed payments, collections, closed cards etc. I'd like to raise my score. The last score I pulled was 742. I have about seven years worth of credit history due to my age.

[user5387]

I would let one CC report a few percent of the CL for that CC, and all others report $0.

[FinStar]

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@user5387 wrote:

I would let one CC report a few percent of the CL for that CC, and all others report $0.

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+1

The ideal or optimal percentage range can be anywhere from 1%-10%.  Then, rotate as appropriate for mix.

[takeshi74]

You'd have to test to find your ideal % but it's probably somewhere in the 1-10% range mentioned above.

[megaman1]

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@takeshi74 wrote:

You'd have to test to find your ideal % but it's probably somewhere in the 1-10% range mentioned above.

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How can we find what our ideal util % is if our credit scores are constantly lowered by inquiries, etc? Just curious.

[09Lexie]

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@megaman1 wrote:

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@takeshi74 wrote:

You'd have to test to find your ideal % but it's probably somewhere in the 1-10% range mentioned above.

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How can we find what our ideal util % is if our credit scores are constantly lowered by inquiries, etc? Just curious.

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Stop apping, allow your CR's to rest a bit then okay around with your util.  

[StartingOver10]

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@megaman1 wrote:

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@takeshi74 wrote:

You'd have to test to find your ideal % but it's probably somewhere in the 1-10% range mentioned above.

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How can we find what our ideal util % is if our credit scores are constantly lowered by inquiries, etc? Just curious.

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Your credit score is NOT affected by consumer inquiries for credit scores. In other words, when you check your scores here, it is not a inquiry that counts against you. The inquiries that do affect your score are those that are for additional credit (cc apps and loan apps).

[raijin23]

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@FinStar wrote:

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@user5387 wrote:

I would let one CC report a few percent of the CL for that CC, and all others report $0.

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+1

The ideal or optimal percentage range can be anywhere from 1%-10%.  Then, rotate as appropriate for mix.

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Is that 1-10% number referring specifically to one credit card's limit or your total credit limit. For example let's say I have a Cap1 card with a 1k limit, but my total credit limit is 10k over 5 cards. Does that mean I should only spend $10-90 on the Cap1 card and let all other cards report a balance of $0?

[user9582673]

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@raijin23 wrote:

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@FinStar wrote:

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@user5387 wrote:

I would let one CC report a few percent of the CL for that CC, and all others report $0.

---

+1

The ideal or optimal percentage range can be anywhere from 1%-10%.  Then, rotate as appropriate for mix.

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Is that 1-10% number referring specifically to one credit card's limit or your total credit limit. For example let's say I have a Cap1 card with a 1k limit, but my total credit limit is 10k over 5 cards. Does that mean I should only spend $10-90 on the Cap1 card and let all other cards report a balance of $0?

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Your total limit. All cards at 0 except Cap1 at $90 would be rounded up to 1% util for your example