What is the optimal Utilization Percentage?

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Replied by sanjay on topic well for me the optimal

well for me the optimal utilization percentage is between 40 and 50 but for my dad it can be between 60 to 70.So, it varies from person to person.
11 years 4 months ago #1

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Replied by Meya on topic I say if you can

I say if you can pay it down in enough time then you can use 90% if you want to, but in my situation, I will go up to 70% (sometimes higher) with a plan to have it back down within 6 months or less. I make the plan before I purchase so that I can take it out of hh income every month. I think that if a person is out charging and paying min bal here and there, they should be below the 30% util.
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Replied by saurabh on topic well in my view the

well in my view the ideal percentage is between 30 to 40 but it really depends on your requirement.
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Replied by Meya on topic No problem! :fun:

No problem!
:fun:
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Replied by rccola71 on topic Ok I will definitely get

Ok I will definitely get my utils down to below 30%. Some already are below 30%, but some are closer to 85%, but Im paying them on time every month and a little more than the min payment. Im going to wait til I have all my utils under 30% then ask for CLI's. Thanks Meya and HJM! Oh and Mary too!!! :laugh:
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Replied by Meya on topic Correct HJm331, this thread is

Correct HJm331, this thread is just cool rccola71. But here is a link from Mary Tomkins:
5) Keep balances low on credit card and other revolving debt. Your credit score will be higher if you show that you can use credit responsibly. Using a small portion of your available credit shows that you are smart in your spending and will be less likely to take on more debt than you can afford. Avoid “maxing out” your credit cards, which makes it look like you can’t control your spending. It's actually best to try to keep your balance under about 30% of your limit.
http://www.financeglobe.com/Finance/Articles/articles/17/1/10-Steps-To-Improving-Your-Credit-Score/Page1.html


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Replied by hjm331 on topic I believe it's 35%

I believe it's 35%
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was created by rccola71

Hey guys, I tried using the search box to see if there was a pre-existing thread for this question and nothing shows up. So my question is what should my utilization REALLY be on my CC's? I have read some posts that mentioned different percentages. Somone said 1-9%, someone else said 30-35%, what is the ideal to help boost my score? And what if I use 100% of my limit, but pay it off in full every month?
11 years 4 months ago #8

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