Optimal Credit Card Utilisation
jimmyjones_2
Forumite 106 Posts
Hi,
I have been stoozing for a couple of years, I have approx £23k balance on AA, First Direct, Halifax and Santander cards with a total credit limit of £27k.
Earlier this year, I figured it would help me get my next card if I closed down some old credit cards before applying for my next card.
That seems to be a bad move because on clearscore.com a negative has appeared: "total credit card % utilisation is relatively high". My clearscore and noddle scores have gone down to below average.
I haven't had a rejected application yet but I was offered a £750 credit limit from Clydesdale which isn't worth the hassle. Also, on MSE eligibility checker my chances are significantly lower than they used to be.
My plan is to pay off the Halifax card to reduce my credit utilisation to about 55% then apply for my next card and continue stoozing.
What credit card utilisation percentage do you experienced stoozers aim for?
I have been stoozing for a couple of years, I have approx £23k balance on AA, First Direct, Halifax and Santander cards with a total credit limit of £27k.
Earlier this year, I figured it would help me get my next card if I closed down some old credit cards before applying for my next card.
That seems to be a bad move because on clearscore.com a negative has appeared: "total credit card % utilisation is relatively high". My clearscore and noddle scores have gone down to below average.
I haven't had a rejected application yet but I was offered a £750 credit limit from Clydesdale which isn't worth the hassle. Also, on MSE eligibility checker my chances are significantly lower than they used to be.
My plan is to pay off the Halifax card to reduce my credit utilisation to about 55% then apply for my next card and continue stoozing.
What credit card utilisation percentage do you experienced stoozers aim for?
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