Anybody have ideas on what the optimum utilization should be on your credit cards for the best score? Obviously 90-100% is bad, but I've heard that paid off doesnt do much for you either??
I can't back this up with hard evidence, just hearsay off of creditnet, so take it for what it's worth. Previous conversations have said that it's either best to have $1 on your card, while some others have said they had best results with utilization between 10 and 20%. Either way, looks like your best bet is to choose one of the two, unless someone else comes with a better idea.
Utilization is a joke used to falsely lower your score so that F I C O can be used to skim you out of more money. LB 59
Anybody have ideas on what the optimum utilization should be on your credit cards for the best score? dman4384 ================= Utilization is a joke used to falsely lower your score so that F I C O can be used to skim you out of more money. LB 59
It may be a scam, but there's still a good number. From watching my own credit take a dive, I'd say that the "good" number is between zero and 50%. Anything more is definitely bad - you'll have negatives show up on your CR. And I would assume that as things get close to 50%, it probably gets worse. Best guess from this board seems to be 25% or so. Less is better than more. My friend has a TU FAKO of around 850 with a utilization of about 5%.