@Anonymous wrote:
Hello,
I started repairing in Feb and have PFD all collections and gotten nearly everything cleaned up. My FICO8 is 601
I’m left with two positive CC
Amex: 100% utilization
Chase: 90% utilization
Synchrony Bank: two paid CO listing $0 balance, closed status. I am using goodwill saturation method on the long shot I can get these removed
Now that all collections are paid and deleted, I’ve got funds to pay off my cc balances in full but am unsure if that’s best way to raise score or if utilization should be 10% for best scores. By all means pay them off so you incur no further interest then you want one of them reporting 9% or less of its CL to the CRAs each month.
Also, Synchrony is reporting the following:
Account Status: Closed
Payment Status: Charge Off
Balance: $0
Is this the most favorable way for them to report or should the payment status be Paid Charge Off? Would that help score? DOesnt matter and leave it alone you dont want an update as it would drop your Fico score. They know its paid off with 0 balance.
Congrats OP for working on bettering you credit profile! I agree with the above and would also suggest paying both credit cards in full. If you had a 3rd credit card, as the previous member suggested, you could take advantage of the AZEO method to help your scores as the accounts age further and your other negative items also age and eventually fall off the report. Also generally speaking, when not using the AZEO method, try and stay under 30% utilization for the reported balance of the available credit limit for each card. 
“Most people work just hard enough not to get fired and get paid just enough not to quit.”
@HighAchiever wrote:Congrats OP for working on bettering you credit profile! I agree with the above and would also suggest paying both credit cards in full. If you had a 3rd credit card, as the previous member suggested, you could take advantage of the AZEO method to help your scores as the accounts age further and your other negative items also age and eventually fall off the report. Also generally speaking, when not using the AZEO method, try and stay under 30% utilization for the reported balance of the available credit limit for each card.
With 2 cards at $0 come statement date. FICO is not a fan of that. Having 1 card report $10 is at 50% on the border. So leaving 1 PIF and 1 @ $10 wont take points away. Having both at $0 will ding the scores. You are correct when the OP hits 3 cards and follow AZEO. Then its at 33.3% and thats under the border of 50% and will help boost the score. Depending on what badies are still hurting.
The dont use over 30% of the credit line isn't really true thats plastered all over the net. CCC's and FICO don't watch that. Some CCC's want heavy usage and pay it down. They make money that way. The CCC's want to be paid on time the lower the statement (util) the better and FICO counts whats reported at statement date. FICO only cares what's reported and not what the percentage was used during the month.
Definitely get those balances paid down to one under 9%. That will likely help a good bit. You did not mention any installment loan, you are losing some points there too. Might want to look at self lender or one of the other SSL options to correct the mix. How old are your open tradelines now? That would drive me whether I would open another account now. You don't want your average falling too low if they are fairly recent.
