What percent of available credit open on a credit card is best for your fico score?

Never exceed 30% of your credit limit in any given month or your score will take a hit.





This is the combined credit limit of all of your credit cards, so if you have a combined limit of $10,000.00 and you have maxed out one card but your total debt is still under $3,000.00 your fine.





Credit score is based on the following factors;





1. Payment history 35%


2. Time in bureau 15%


3. Types of credit 10%


4. New credit 10%


5. Debt to credit ratio 30%





Notice avaliable credit is not mentioned, that's because it has no affect on your score no matter what anyone says.





Neither doe's debt to income.





Both may have a affect on your being approved for a loan depending on the lenders guidelines but neither has any affect on your score.|||Three major things that effect your score are:





1) Amount of credit available vs. balance used - Best to keep it below 50% on all cards. The urge to move all debt to one card, for a lower rate or any other reason, is not good for your score.





2) Your pay history in the last 24 months. That is why paying off old debt is not always a good idea. If you pay off an old credit card chargeoff, that is more than two years old, it brings the chargeoff back into the 24 month window. I know it seems stupid that paying a bill would hurt you, but I have seen it happen more than once.





3) Immediate history - If you have any current lates on your credit or any from the past few months, it can have a devasting short term effect on your score.





I have been working with these issues with clients for years. This advise is based solely on what I have observed over the years.





There are computer programs out their that you can feed your report into and try different scenarios to bring your credit score up. Hope this helped...|||If you spend less than 30% of your total credit limit, you are fine.|||I am also in the finance arena and Spifiman is correct.





Available credit has no affect on a persons credit score.





Neither doe's debt to income or the number of credit cards they have. What matters is how they manage them.





As far as butterfly is concerned, you most likely got 5 thumbs down because 4 other people besides me realized that you do not know what you are talking about.|||you should always remain under the half way mark of whatever your limit is.|||NO available credit is good. If you have no plans on using a card you got then cancel it. Otherwise it looks like you COULD run that much debt on however many cards you have. If you have 4 cards with 5 grand available....that really looks like a 20 grand liability.


Thanks greatly for the 5 thumbs down. Watch and see what available credit does and then think back at my answer dead beats.Why are these 5 people a88holes?