Individual credit line utilization vs. total credit utilization

[fused]

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@Anonymous-own-fico wrote:

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@fused wrote:

Have overall util reporting 1%

Have only one card reporting 1% util

Have all other CCs reporting $0 balances

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I trust the overall util is more like a tenth of 1%, but, as you noted, rounded up.

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Yes!!!!!!

[Anonymous]

My AMEX is a "Blue Cash" card.

So let me get my strategy straight and if someone would let me know it's correct I would really apprecicate it.

Each month I will report $1 on my AMEX, and I will report 0 on my other two cards.

This will give me 1% utilization on my AMEX and 1% total credit line utilization. This works even though the actual util is well less than 1% because reporting any balance, no matter how small in percentage terms will be rounded up to 1% for the AMEX and for the total credit line utlilization?

[MarineVietVet]

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@Anonymous wrote:

My AMEX is a "Blue Cash" card.

So let me get my strategy straight and if someone would let me know it's correct I would really apprecicate it.

Each month I will report $1 on my AMEX, and I will report 0 on my other two cards.

This will give me 1% utilization on my AMEX and 1% total credit line utilization. This works even though the actual util is well less than 1% because reporting any balance, no matter how small in percentage terms will be rounded up to 1% for the AMEX and for the total credit line utlilization?

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You are correct.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[unctarheel08]

good topic and thanks for the replies...this was something i was a little confused on as well, especially the rounding up for 1% utilization.

if i have two cards, is it preferable that i let only one report a balance or is the best option to apply for a third card and let 1/3 report a balance so i am using less than 50% of my cards? i just feel like i need to wait a while since i have a recent auto loan and a new credit card inquiry on my report right now.

[MarineVietVet]

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@unctarheel08 wrote:

good topic and thanks for the replies...this was something i was a little confused on as well, especially the rounding up for 1% utilization.

if i have two cards, is it preferable that i let only one report a balance or is the best option to apply for a third card and let 1/3 report a balance so i am using less than 50% of my cards? i just feel like i need to wait a while since i have a recent auto loan and a new credit card inquiry on my report right now.

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I would not try and get another card for awhile since you have recent credit. IMO you can do just fine with the 2 cards you have.

As you said let only one card show a 1-9% utilization each month.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[unctarheel08]

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@MarineVietVet wrote:

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@unctarheel08 wrote:

good topic and thanks for the replies...this was something i was a little confused on as well, especially the rounding up for 1% utilization.

if i have two cards, is it preferable that i let only one report a balance or is the best option to apply for a third card and let 1/3 report a balance so i am using less than 50% of my cards? i just feel like i need to wait a while since i have a recent auto loan and a new credit card inquiry on my report right now.

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I would not try and get another card for awhile since you have recent credit. IMO you can do just fine with the 2 cards you have.

As you said let only one card show a 1-9% utilization each month.

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thanks, this was my exact thought process as well.

[Anonymous]

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@Anonymous wrote:

" Are you sure there isn't another trade line factoring in revolving util calculations on your reports?"

I do not understand this question.

As to your questions about credit lines. I have three credit cards and a mortgage. Those are all of my lines of credit.

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He was asking if you may have a CO on your CR.    A CO with a balance always counts towards utilization.

[Anonymous]

CO = Charge off, what does CR =? And can you please explain the verbage?

[MarineVietVet]

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@Anonymous wrote:

CO = Charge off, what does CR =? And can you please explain the verbage?

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CR= Credit report

Here's a list of  Abbreviations.

[kal9988]

i've read that having a $0 balance is bad -- they want to seen that you're using your credit.