Multaple CC's Utilization

[DIYcredit]

   Hi,

        First of all I would like to Thank Everyone on this forum for their advice.I been involved with this forum for a year now.I went from having $15,000.00 in debt, four lates,and two medical collections to $7000.00 in debt I still have the lates,two collections deleted and two new CC's.My Trans Union Myfico Score  went up 45 points in six months  631-676.  My question is that I have two CC's. Capital One Quicksilver (since 2/2014) and Capital One MasterCard ( since 5/2015.I sure it been discussed but I culdn't find it.What I've been doing is charge up the QS and pay it down before the statement closing date and let about 5% utilization reports to the CB's.The MasterCard I would charge about $20 and let let that report to CB's about 1% utilization.Should I keep doing this?And what about three cards because next year I'll probably go for another CC.I've read in other posting where it's said to have three CC's rotating.One report %1 utilization and the other two report 0% utilization. I thought 0% is  bad.I'm a little confused. Can anyone Help?

     Thanks,

        DIYcredit.

[CH-7-Mission-Accomplished]

0% is bad only if you mean 0% of all your revolving credit limits.  So long asone credit card is reporting a small balance (like $5), that is all you need to get those 15 FICO points.   FICO prefers to see a balance on only one card, so if you have three, two should be reporting zero balances and one a small amount like $5.

If you mess up one month, well you can fix it the next since utilization has no memory.

You likely will see a score increase if you add another revolving card.  If you don't have a store card, I would consider adding one like Wal-Mart that gives a free monthly FICO.

[Anonymous]

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@DIYcredit wrote:

   Hi,

        First of all I would like to Thank Everyone on this forum for their advice.I been involved with this forum for a year now.I went from having $15,000.00 in debt, four lates,and two medical collections to $7000.00 in debt I still have the lates,two collections deleted and two new CC's.My Trans Union Myfico Score  went up 45 points in six months  631-676.  My question is that I have two CC's. Capital One Quicksilver (since 2/2014) and Capital One MasterCard ( since 5/2015.I sure it been discussed but I culdn't find it.What I've been doing is charge up the QS and pay it down before the statement closing date and let about 5% utilization reports to the CB's.The MasterCard I would charge about $20 and let let that report to CB's about 1% utilization.Should I keep doing this?And what about three cards because next year I'll probably go for another CC.I've read in other posting where it's said to have three CC's rotating.One report %1 utilization and the other two report 0% utilization. I thought 0% is  bad.I'm a little confused. Can anyone Help?

     Thanks,

        DIYcredit.

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Get a third card. Secured if need be. Only let ONE card report a balance. That strategy will always get you into maximum FICO territory.

Don't try any complication rotation scheme. Just pick one card and let it be the "report card" every month. Same card. Every month.