How much should report monthly

[Anonymous]

Hello,

 I am working on my credit, my score are all in the 700's, from being 400's in 2007.  I have cleaned up my credit and I only let my NFCU Visa carry a balance of 140.00. I have paid all my loan and school loans off as well.  Every two months I will purchase something from Macy's and PIF.  I have around 25,000 available credit, should I let more revolve or have more of a balance on accounts?

                 :                           NAV Check - 600

NFCU MC-                              NFCU- Visa- 140.

Amex  Blue

Amex Delta

Macy's

Target

Express

Zales

Kay

William D. Ford

Car Loan

Personal NFCU loan

Personal NFCU loan

[Junejer]

Hi mishie, IMO you should let all CCs report a $0 balance, except one, which should report a small balance of under 9% util.

[RobertEG]

The primary consideration is when are you planning to app for new credit?  Until that time, fine-tuning your FICO score each month has little practical meaning.  View it from a financial rather than FICO viewpoint up until that time, and minimize any interest you pay, but occasionally charge on active accounts every few months to assure they continue to be reported.  About two months before you are ready to app for new credit, then shift over into your FICO strategy mode, have only one card reporting a blanance, and all cards well under 10%.

[haulingthescoreup]

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RobertEG wrote:
The primary consideration is when are you planning to app for new credit?  Until that time, fine-tuning your FICO score each month has little practical meaning.  View it from a financial rather than FICO viewpoint up until that time, and minimize any interest you pay, but occasionally charge on active accounts every few months to assure they continue to be reported.  About two months before you are ready to app for new credit, then shift over into your FICO strategy mode, have only one card reporting a blanance, and all cards well under 10%.

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This was once true, but with the jitters sweeping the financial industry, you don't want lenders to see significant balances on multiple accounts. We also have no idea if they're looking at scores as well as reports when they soft you. We've had so many members with great credit histories whose limits are being slashed and rates increased! Even if you pay your balances as soon as the statement posts, and never pay a dime of interest, your reports make it look as if you're carrying balances.

I say keep your reports looking as good as you possibly can at all times, because ya just never know when someone is looking at them.