Credit utilization

[Anonymous]

Hello I need 16 points in order to be approved for my mortgage loan . My current utilization is at 5% does anyone know if I drop this to 1% if it will give me the boost I need ?

[Appleman]

Is your utilization across multiple cards or with one card?

The AZEO (All Zero Except One) method is said to give the max score related to credit cards. Some have seen improvements with 1% reporting some it just needs to be less than 9% (but on only one card).

I would be doubtful that that alone would grab you 16 points.

[Anonymous]

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@Anonymous wrote:
Hello I need 16 points in order to be approved for my mortgage loan . My current utilization is at 5% does anyone know if I drop this to 1% if it will give me the boost I need ?

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I am sure it will give a boost but we can't quantify it. also, try AZEO method if you have two or more credit cards for a temporary fix. 

[Anonymous]

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@Appleman wrote:

Is your utilization across multiple cards or with one card?

The AZEO (All Zero Except One) method is said to give the max score related to credit cards. Some have seen improvements with 1% reporting some it just needs to be less than 9% (but on only one card).

I would be doubtful that that alone would grab you 16 points.

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it's funny how we replied in a minutes difference same thing. I like that help on this forum is proactive and quick

[Anonymous]

I have three credit cards with one of them being an authorized user account
(AU) BOA 5% utilization 18,000 credit limit
Credit one 2% 5.00 300 credit limit
Capital one 1 % 4.00 400 credit limit

[Anonymous]

And the last time I had a credit card report 0% it dropped my score 10 points 😞

[Anonymous]

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@Anonymous wrote:
And the last time I had a credit card report 0% it dropped my score 10 points 😞

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having 0% is bad according to Fico model so let one statement generate something 1<9% while other cards having zero (this method is AZEO) and see the magic.

[Anonymous]

PS fluctuation in 10 points is considered normal with scores however people in between categories are the ones most affected :/ but its not for long patience, discipline and time is all we need. I wish you luck.

[SouthJamaica]

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@Anonymous wrote:
Hello I need 16 points in order to be approved for my mortgage loan . My current utilization is at 5% does anyone know if I drop this to 1% if it will give me the boost I need ?

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No one can tell you if it will but I think you will do better focusing on the number of cards reporting a balance. With your mortgage scores, it appears that having all but one of the accounts reporting a zero balance can be helpful.

[SouthJamaica]

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@Anonymous wrote:
I have three credit cards with one of them being an authorized user account
(AU) BOA 5% utilization 18,000 credit limit
Credit one 2% 5.00 300 credit limit
Capital one 1 % 4.00 400 credit limit

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Let the 2 small ones report a zero balance.