@THEKM wrote:
Looking for advice on what is the best way, scoring-wise, to reduce my CC's utilization.
I have the following cards:
Apple Card - 3840/4000
AMEX - 5800 / 6000
Discover - 90/500
Capital One QS1 - 100/500
Capital One QS - 40/400
Bank of America - 30/700
Looking over the cards above, you might have a question on how in the world is the Apple Card & AMEX Limits considerably higher than the rest?
So back when I didn't have an SSN, I only had an ITIN. What I did first was apply for the BOA, secured and that got me $500 SL. Then afterwards, I applied for the AMEX and they gave me $6000 SL. The BOA graduated and SL increased to 700. With the same ITIN, I then applied for Apple Card, QS1 and QS. Then I got my SSN, I applied for my Discover. I got $500, which is understandable considering my scores at the time, weren't the best due to the fact I was facing some financial changes in life.
I'm in a much better position now and are at a point where I'm able to outright pay off the AMEX and Apple Card down. What I don't want, however is to have the limits reduced to how long they've been near 100% utilization.
I've been experimenting with the Discover, QS, QS1 and BOA by paying them outright. They were near 100% individually but I paid them all off in one single month and didn't see any CLD. Maybe because the limits were already low as is.
I was thinking of either, getting the Apple and AMEX down to 60% and then down to <10% or just outright <10%? What is the best for scoring purposes?
In hindsight I shouldn't have applied for the Discover as that brought my AaoA down but I wanted in with Discover, so...
Any advice is appreciated! Thank you
Pay the 4 small balances down to zero, and let them report zero balances each month. Pay Amex and Apple each down to reporting 28% balances (i.e. Apple down to $1120 or less, and Amex down to reported balance of $1680 or less)
