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Needs expert confirmation paying...

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Frequent Contributor

Needs expert confirmation paying...

I have a quick question.  I know Idealy is to keep your balance from 1-9% and my question to you guys so would my score drop if my balance increase but still within my 9% range?

 

For sample Last month I left my balance of $85 that is 7% of my credit limit.  If this month I leave me balance at $95 that is 8% would that cause my score to drop?

 

Also if some month I leave my balance 1% and next following month I leave my balance to 8% would that effect my score?

 

Or as long as I stay within my 9%< range im good?

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Moderator

Re: Needs expert confirmation paying...


@stickyrice74985 wrote:

I have a quick question.  I know Idealy is to keep your balance from 1-9% and my question to you guys so would my score drop if my balance increase but still within my 9% range?

 

For sample Last month I left my balance of $85 that is 7% of my credit limit.  If this month I leave me balance at $95 that is 8% would that cause my score to drop?

 

Also if some month I leave my balance 1% and next following month I leave my balance to 8% would that effect my score?

 

Or as long as I stay within my 9%< range im good?


Its different for everyone, some will get a score move some may not, you will have to experiment with the percentages to find which gives you the best Fico.

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Blogger

Re: Needs expert confirmation paying...

2% is the optimal uitilization. If you deviate from this, your score may change or not depending on the magnitude of the change and the rest of your credit profile.

Message 3 of 4
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Super Contributor

Re: Needs expert confirmation paying...

OP, it sounds like you have a limited number of cards, a limited number of months of payments? What are your current scores from MyFICO?

 

If you are just starting out with a limited number of months of credit history, optimizing now is not going to be noticeable, because you will pick up points on a regular basis just for continuing to make on time payments, not missing any payments.

 

There's nothing wrong with keeping the reporting amount between $10 and $95, it just seems a little OCD to watch for FICO score changes at that level of open amounts Smiley Happy

 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
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