CarefulBuilder14 wrote:Is it considered bad for a FICO to have less than 1% report but more than $0? A $1 balance on a $5,000 card is less than a full 1% but it still reports to the bureaus that you're using it.
CarefulBuilder14 wrote:Is there some reason that multiple cards with tiny balances are considered bad?
CarefulBuilder14 wrote:If I was a lender
MemberSince99 wrote:My experience has been, by allowing small balances (under 100 total) report on three cards one month (not something I typically do, usually they all report 0) only TU punished me on my score for it, and the TU they had (and still have I think) at the time was the old version, TU98. EX and EQ did not punish my score.
So I think based on what I saw this certainly was true in the past but now it seems less so with the newer models. Ideally just to be safe, if I were going to let a balance hit (and I pretty much never do unless it's a screw up on my end OR an annual fee I can't avoid hitting) I'd do the one card small amount thing. We never know which model a potential lender may use so it can't hurt to be safe.
popamode72 wrote:If I do carry balances on certain cards, I always make sure they aren't a HUGE part of the credit limit and also focus on keeping my overall utilization as low as possible. On the lower limit cards especially.