Re: Do I need to get a car loan to raise my FICO score to excellent?
A credit balance will report as a zero balance.
General drift on the forums is that the highest score results from two or three national / bank credit cards. "Less than half" but at least one reporting a balance, and rotate which ones report a balance each month. Keep utilization below 10%.
I remember one post where the OP did what you're doing, took all to zero balance, then let one card report a small balance and the score went up slightly.
BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012 Starting Score:11/16/2009EQ56611/16/2009TU538 Interim Score: 12/27/2012EQ68309/17/2012EX (lender)6701/01/2013TU701 Current Score: 11/06/2013EQ70811/06/2013EX 70211/16/2013 70211/06/2013TU729 Goal Score: EQ740EX740 TU740 Take the FICO Fitness Challenge