cancel
Showing results for 
Search instead for 
Did you mean: 

I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

Highlighted
Member

I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

I have two credit cards. One is a Capital One $3000 credit card and the other is an HSN $500 and I do not have any credit card debts . Someone told me I can have two credit cards and not use one (at zero balance) and not have it reduce my credit score. My question is can I leave 1 to 9 percent utilization on both credit cards and pay these percentages from both cards a few days after the statement closes, leaving 1-9 percent balance on both cards and paying them a few days after the statement closes. Can it be $30 for the Capital one card and zero for the HSN card or would I have to utilize both cards.

Message 1 of 8
7 REPLIES 7
Highlighted
Established Contributor

Re: I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

You can use both cards. Just pay off one before the statement reports and leave a small balance on the other one so that it reports something, eg $30 on the Cap 1 card. This will keep your score at a maximum with respect to credit utilization. 


Starting Score: EX:570, 8/2011
Current
Scores(8/30/18):
EX08:850; EQ08:850,
TU08:847
Inqs(12 mo): EX/0, EQ/0, TU/0
Goal Scores: 800+
My Cards: BoA Rewards: 30K, Discover IT: 50K, Arrival : 13.3K, CDP: 30.1K, Amex PRG, Amex ED: 22.5K, Amex BCP: 20K, FU: 21K, CSR: 35K, Amazon Store: 20K, Macys:10K, Diners Club:40K
Message 2 of 8
Highlighted
Member

Re: I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

Can I have the HSN card at a zero balance and just utilize the Capital One card at $68 and pay this after the Captial One statement closes?

Message 3 of 8
Highlighted
Established Contributor

Re: I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..


@Cheryl493 wrote:

Can I have the HSN card at a zero balance and just utilize the Capital One card at $68 and pay this after the Captial One statement closes?


Yes, that will work fine.


Starting Score: EX:570, 8/2011
Current
Scores(8/30/18):
EX08:850; EQ08:850,
TU08:847
Inqs(12 mo): EX/0, EQ/0, TU/0
Goal Scores: 800+
My Cards: BoA Rewards: 30K, Discover IT: 50K, Arrival : 13.3K, CDP: 30.1K, Amex PRG, Amex ED: 22.5K, Amex BCP: 20K, FU: 21K, CSR: 35K, Amazon Store: 20K, Macys:10K, Diners Club:40K
Message 4 of 8
Highlighted
Member

Re: I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

So it would be okay for me to not use the HSN card and only utilize the Capital One card at 1-9% and still have my credit score increase? And would this be a few days after the closing date?

Message 5 of 8
Highlighted
Established Contributor

Re: I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

Yes, don't use the HSN card if you don't want or need to and make sure that your Cap1 reports a small balance, i.e. after the statement reports. 


Starting Score: EX:570, 8/2011
Current
Scores(8/30/18):
EX08:850; EQ08:850,
TU08:847
Inqs(12 mo): EX/0, EQ/0, TU/0
Goal Scores: 800+
My Cards: BoA Rewards: 30K, Discover IT: 50K, Arrival : 13.3K, CDP: 30.1K, Amex PRG, Amex ED: 22.5K, Amex BCP: 20K, FU: 21K, CSR: 35K, Amazon Store: 20K, Macys:10K, Diners Club:40K
Message 6 of 8
Highlighted
Member

Re: I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

Yes, don't use the HSN card if you don't want or need to and make sure that your Cap1 reports a small balance, i.e. after the statement reports.

 

 I have a bit of dyslexia.My  Capital One $3000 credit card and its payment due date is the 6th of every month and statement closing date  for this card is the 9th of each  month, can you tell me what date I would be paying this 1-9 percent utilization for this credit card. Would this be after the 9th of each month. 

 

LATE PAYMENT WARNING: If we do not receive your minimum payment by your due date, you may have to pay a late fee of up to $35.00.

Message 7 of 8
Highlighted
Established Contributor

Re: I HAVE TWO CREDIT CARDS AND WOULD LIKE TO UTILIZE BOTH..

Be careful here. You must make a payment by the due date! Just don't pay the card to $0. Leave a small balance to report on the statement. For example, if you owe $100 on the card, pay $70 by the due date and let the remaining balance of $30 post on your statement.


Starting Score: EX:570, 8/2011
Current
Scores(8/30/18):
EX08:850; EQ08:850,
TU08:847
Inqs(12 mo): EX/0, EQ/0, TU/0
Goal Scores: 800+
My Cards: BoA Rewards: 30K, Discover IT: 50K, Arrival : 13.3K, CDP: 30.1K, Amex PRG, Amex ED: 22.5K, Amex BCP: 20K, FU: 21K, CSR: 35K, Amazon Store: 20K, Macys:10K, Diners Club:40K
Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.