what is the best way to maximize your credit score?? i've read that utilizing 20-30% of you credit line is best... i've also read that paying off your balance in full every month is the best... i have no problem doing either, i just wanna know which would result in better credit scores. dilla
I don't know what is the ideal credit utilization but I do know that I get the biggest positive effect to my FICO score when I pay down about 95% of my credit card balances.
Look at my sig line, thats the difference between 0 & 48 percent revolving util. for me with ten years history,no derogs. and a good mix. Util. moves my FICO more than anything else I have tried, besides even if you pay in full every month they may report the balance before they credit you. If you want to see the impact, pay revolving balances down to zero and let them stay there for a couple of months.20 to 30% will lower them a good bit.
