How much of my credit limit should I use?

Credit utilization accounts for 30% of your total FICO credit score. While conventional advice suggests staying below 30%, FICO scoring models award maximum points to consumers who keep their reported revolving utilization below 10%, and ideally between 1% and 3% (utilization of exactly 0% across all cards can trigger a minor 10-15 point penalty known as the 'all zero' penalty). Crucially, credit card issuers report your balance to the three credit bureaus (Equifax, Experian, TransUnion) on your statement closing date, NOT your payment due date. To optimize your score before applying for a loan, pay down your balances 3 business days before your statement close date.