Utilization question.

[designated_knitter]

Let's say 10 credit cards each with a 2000 limit and 1000 debt.  ( hypothetical for the sake of easy math)

Is it better to have 100 dollars on each card  with one card with 1000 and all others at zero?

Thanks in advance!

[rostrow416]

The fewer cards with balances, the better - both score wise and managing them.

[Ficoproblems247]

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@designated_knitter wrote:

Let's say 10 credit cards each with a 2000 limit and 1000 debt.  ( hypothetical for the sake of easy math)

Is it better to have 100 dollars on each card  with one card with 1000 and all others at zero?

Thanks in advance!

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Well, if those are my only two choices, I would have to see how my profile responded to both 100% of revolvers reporting a balance, vs. 1 revolver reporting 50% utilization. I could tell you that I'm almost positive that I would rather have 10 cards report in at 5% util than 1 card at 50%. NOW, if I could pick option 3, it would be 2 cards reporting at $500 each. That way I am below the 29% threshold on individual utilization, and below 25% of my revolving accounts reporting a balance. 

[SouthJamaica]

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@Ficoproblems247 wrote:

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@designated_knitter wrote:

Let's say 10 credit cards each with a 2000 limit and 1000 debt.  ( hypothetical for the sake of easy math)

Is it better to have 100 dollars on each card  with one card with 1000 and all others at zero?

Thanks in advance!

---

Well, if those are my only two choices, I would have to see how my profile responded to both 100% of revolvers reporting a balance, vs. 1 revolver reporting 50% utilization. I could tell you that I'm almost positive that I would rather have 10 cards report in at 5% util than 1 card at 50%. NOW, if I could pick option 3, it would be 2 cards reporting at $500 each. That way I am below the 29% threshold on individual utilization, and below 25% of my revolving accounts reporting a balance. 

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Neither makes sense to me. @Ficoproblems247 is right. I would put 500 each on 2 cards, and let the other 8 report at zero.

[Anonymous]

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@Ficoproblems247 wrote:

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@designated_knitter wrote:

Let's say 10 credit cards each with a 2000 limit and 1000 debt.  ( hypothetical for the sake of easy math)

Is it better to have 100 dollars on each card  with one card with 1000 and all others at zero?

Thanks in advance!

---

Well, if those are my only two choices, I would have to see how my profile responded to both 100% of revolvers reporting a balance, vs. 1 revolver reporting 50% utilization. I could tell you that I'm almost positive that I would rather have 10 cards report in at 5% util than 1 card at 50%. NOW, if I could pick option 3, it would be 2 cards reporting at $500 each. That way I am below the 29% threshold on individual utilization, and below 25% of my revolving accounts reporting a balance. 

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^^^^ Smart ppl that @Ficoproblems247 

[designated_knitter]

Y'all are smart. I was primarily interested in whether it matters if debt is spread out across a bunch of cards vs keeping it limited to one card but I was too narrow in how I was thinking here. 

Thanks for the responses and food for thought.