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Shoot, 0% Utilization

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bahbahd
Established Contributor

Shoot, 0% Utilization

I thought I was going to have one or two auths go through on this statement on my one open CC. Paid all that was due today. Logged in and see no posted debits. I paid down to zero the same day my statement cut. Normally it would be the 19th, but that is Sunday. I literally have $5000 even in avail credit. I was going to app for discover, but now it looks like I don't use my current card. Big deal? Not happy with 0% utilization this month. Should I wait a month to app?

Edit: and I meant to post this in CC forum. Ooops
Message 1 of 11
10 REPLIES 10
DaBears
Senior Contributor

Re: Shoot, 0% Utilization

How many credit cards you currently have? keeping a $0 UTIL can hurt your score and Fico likes to see some type of movement on the cards each month.

Message 2 of 11
bahbahd
Established Contributor

Re: Shoot, 0% Utilization

Just one open revolving right now. It reported +$800/5000 last month even though I pay the full balance two or three times a month. I thought a few more auths would go through. I just assumed my statement cut date this month would be the 19th or 20th. I guess I am waiting to see what my score does (and maybe a month) before apping for another new card
Message 3 of 11
DaBears
Senior Contributor

Re: Shoot, 0% Utilization

Keep it between 1-9% UTIL every month!!!!

Message 4 of 11
mauve
Valued Contributor

Re: Shoot, 0% Utilization

I absolutely disagree. If you only have 1 revolving account, I'd go for 0% utilization. For ideal scoring, I wouldn't play the 1-9% game unless I had 3 open cards. 0% utilization on 2 of them, and 1-9% utilization on one of them. Definitely get some opinions on the CC board about what criteria you should shoot for to app for Discover. I got mine when I had 4 open cards. 

 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 5 of 11
bahbahd
Established Contributor

Re: Shoot, 0% Utilization

Yea, I've been trying. You almost have to strategically plan when charges post and the pay down amount before you stop using the card for almost a week before the statement cut date just so nothing random happen and bumps your ending balance
Message 6 of 11
bahbahd
Established Contributor

Re: Shoot, 0% Utilization

Re, discover. I have many positive accounts that were closed due to nonactivity. They have soft pulled me and have sent me 3 preselected offers in less than 6 weeks. I feel like they want me to app
Message 7 of 11
mauve
Valued Contributor

Re: Shoot, 0% Utilization

I would personally pull the trigger. Are they sending you offers for the IT or the More? People seem to love the IT.

 

Worst case scenario  - turned down, and if you were, you'd get a score and have the opportunity to recon.

 

If that happens, I'd apply for another card I wanted while you're using hard pulls anyway.

 

Also, you could consider asking if those other cards would consider re-opening.


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 8 of 11
bahbahd
Established Contributor

Re: Shoot, 0% Utilization

I think I will app after the balance reports this month. I wanna have three revolving accounts open soon.
Message 9 of 11
mauve
Valued Contributor

Re: Shoot, 0% Utilization

I don't know why you want a balance reporting on your only revolving account. I really think you're better off, since you only have 1 revolving account, to do it at 0% utilization.

 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 10 of 11
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