FICo scores with Multiple cards

[CenturyChild]

Perhaps my Google/search skills aren't that evolved yet as I couldn't find an answer to my question.

From my understanding, the optimal FICO score would be to have only 1 card reporting a balance at 9% or less.

But what about multiple cards? I understand multiple cards carrying high balances can hurt.

But Im curious about a scenario such as as this.

7 Credit cards total all with 0 balance except for 3.

1 has 25%, 1 has 5% and a 3rd with say something like  2%.

With overall utilization being well under 10%.

Will the FICO get dinged much for having multiple balances if they are all low like this? I know they certainly do will high util per card and overall.

May sound silly, Im just trying to understand if something like this would still be considered bad/not good or if something like this would be acceptable

(strictly in regards to scoring)

[Anonymous]

You would need to experiment and see what works best for you. 

FICO does ding you for too many balances reporting.  Also for all reporting 0 balances.

Some have said they let more than one report a balance and didn't get dinged.  Others let a card report a balance that does not normally and got dinged.

It is all a YMMV thing.  Do what works best for you.  As I said, it will take experimenting to see how it will work for you.  If you don't like the outcome, change it back to what it was before.

[CenturyChild]

Ok Thanks.

I'll experiemet around and see what happens

If there is a multi card balance ding, I wouldn't think it would be too much if its all low balances. We shall see.

[Revelate]

---

@CenturyChild wrote:

Ok Thanks.

I'll experiemet around and see what happens

If there is a multi card balance ding, I wouldn't think it would be too much if its all low balances. We shall see.

---

Anecdotally most experiments I've seen come back with "less than half" when it comes tradelines reporting balances.

Someone recently did an experiement with something like $1 reporting on all 8 of her cards and it tanked her score by 50ish points, but she has near 800 FICO's; for me at a mixed file 700ish, I wouldn't take nearly as large of a dip doing that.

[Kratos-TM]

---

Revelate wrote:

---

Someone recently did an experiement with something like $1 reporting on all 8 of her cards and it tanked her score by 50ish points, but she has near 800 FICO's; for me at a mixed file 700ish, I wouldn't take nearly as large of a dip doing that.

---

That's crazy! This is definitely a game and if you don't know the rules to it, you will never win at it. For years my score has always been in the 720 range, and then one day I joined this forum and learned the credit card rules........and suddenly......BAM......I'm in the 800 club overnight. It blows my mind that I was capable of getting there all along.....just didn't know the rules. I grew up thinking that the 800 club was only for people who've been in the credit world for years like my father and grandfather. I thought it was my age holding me back.....boy was I wrong......just didn't know the game rules......Thank God for this forum!!!!!

[parkman]

---

@Kratos-TM wrote:

---

@Revelate wrote:

---

Someone recently did an experiement with something like $1 reporting on all 8 of her cards and it tanked her score by 50ish points, but she has near 800 FICO's; for me at a mixed file 700ish, I wouldn't take nearly as large of a dip doing that.

---

That's crazy! This is definitely a game and if you don't know the rules to it, you will never win at it. For years my score has always been in the 720 range, and then one day I joined this forum and learned the credit card rules........and suddenly......BAM......I'm in the 800 club overnight. It blows my mind that I was capable of getting there all along.....just didn't know the rules. I grew up thinking that the 800 club was only for people who've been in the credit world for years like my father and grandfather. I thought it was my age holding me back.....boy was I wrong......just didn't know the game rules......Thank God for this forum!!!!!

---

If you don't mind me asking, what your Average Age of Accounts, and what's your oldest and newest account. I'm trying to calculate out what my score might be once my baddies drop off...