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utilization on multiple business cards

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longclimbback
Regular Contributor

utilization on multiple business cards

I searched but found nothing on utilization if you have more than one card. I have a 2 year old ink cash with a 20k limit that I've come close to maxing and then paid down with never any second thoughts. I recently added a boa business cash rewards 16k and an ink plus 17k. Anyone have any thoughts on maximum utilization on these cards. Ideally I'd like to rotate them and keep a high balance on only 2 of them before paying down or off. But depending on cash flow maybe it would be necessary to have all 3 report a significant balance at times. Anyone ever have any adverse actions for carrying multiple high balances on business cards for a couple months?
Message 1 of 12
11 REPLIES 11
Imperfectfuture
Super Contributor

Re: utilization on multiple business cards

Carried high balance on one card for few months. No AA. This was Amex. Will be carrying high util on Ink until get cli, think I will be play there.
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Message 2 of 12
myjourney
Super Contributor

Re: utilization on multiple business cards

Change your thinking about business cards UTL

They have no bearing like personal in fact the more you use the more they like 

You can run it up 100% and let the statement cut no biggie 

In your case run all 3 up if you like and don't stress the small stuffSmiley Wink

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 12
longclimbback
Regular Contributor

Re: utilization on multiple business cards

Thanks journey, that's what I was wondering.
Message 4 of 12
myjourney
Super Contributor

Re: utilization on multiple business cards


@longclimbback wrote:
Thanks journey, that's what I was wondering.

Any time and you're welcome Smiley Wink

So take that business worry out of the equation and concentrate on other aspects of the biz

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 12
Bobbyjohnson
New Contributor

Re: utilization on multiple business cards

data point:  I have 11k used out of 18.5k avaialble on Chase Ink Cash (as part of 0% offer). Over 200k in unused personal CLs. My Amex SPG business 11k out of 23k used (for about 6 months).  7th statement cut and bam, out of nowhere I get an email with a CLD'd to 11.3k. Fico is 757, no major drop. No new apps in about 6 months.

 

So just a word of caution with Amex Biz cards - don't carry a balance for too long.

Message 6 of 12
baller4life
Super Contributor

Re: utilization on multiple business cards


@Bobbyjohnson wrote:

data point:  I have 11k used out of 18.5k avaialble on Chase Ink Cash (as part of 0% offer). Over 200k in unused personal CLs. My Amex SPG business 11k out of 23k used (for about 6 months).  7th statement cut and bam, out of nowhere I get an email with a CLD'd to 11.3k. Fico is 757, no major drop. No new apps in about 6 months.

 

So just a word of caution with Amex Biz cards - don't carry a balance for too long.


Good to know. Thanks for sharing!

Message 7 of 12
Imperfectfuture
Super Contributor

Re: utilization on multiple business cards


@baller4life wrote:

@Bobbyjohnson wrote:

data point:  I have 11k used out of 18.5k avaialble on Chase Ink Cash (as part of 0% offer). Over 200k in unused personal CLs. My Amex SPG business 11k out of 23k used (for about 6 months).  7th statement cut and bam, out of nowhere I get an email with a CLD'd to 11.3k. Fico is 757, no major drop. No new apps in about 6 months.

 

So just a word of caution with Amex Biz cards - don't carry a balance for too long.


Good to know. Thanks for sharing!


Had no problems carrying on simplycash, almost 8 months.

Signature needs updating
Message 8 of 12
SouthJamaica
Mega Contributor

Re: utilization on multiple business cards


@Bobbyjohnson wrote:

data point:  I have 11k used out of 18.5k avaialble on Chase Ink Cash (as part of 0% offer). Over 200k in unused personal CLs. My Amex SPG business 11k out of 23k used (for about 6 months).  7th statement cut and bam, out of nowhere I get an email with a CLD'd to 11.3k. Fico is 757, no major drop. No new apps in about 6 months.

 

So just a word of caution with Amex Biz cards - don't carry a balance for too long.


Wow, thanks for that info.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 9 of 12
myjourney
Super Contributor

Re: utilization on multiple business cards


@Bobbyjohnson wrote:

data point:  I have 11k used out of 18.5k avaialble on Chase Ink Cash (as part of 0% offer). Over 200k in unused personal CLs. My Amex SPG business 11k out of 23k used (for about 6 months).  7th statement cut and bam, out of nowhere I get an email with a CLD'd to 11.3k. Fico is 757, no major drop. No new apps in about 6 months.

 

So just a word of caution with Amex Biz cards - don't carry a balance for too long.


We always suggest when statement cuts PIF although I understand the Ink 0% promo usage 

SPG usage tho I can't understand why didn't you put it under $0%? (curious that's all) 

 

You were carrying 22k on 41.5k limits 50% UTL 

I can see where this may have raised some red flags after an extended period

Depending on what amount you were paying towards the balance and interest over the course of 6 months on SPG. 

Since it has no $0% promo this can be trigger ^^^^^^^^

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 10 of 12
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