Way to go baller!! And happy vacations to you too!!
Ok here's the deal. Any balance on a card with a limit of $50k+ is NOT figured into individual card util. It is added in overall util. But, you won't get the score ding for individual card util. Fico completely ignores it.
I'm confused. A balance on any credit card with a limit of 50k or higher is counted in my 30% "amounts owed" but only against the total of all credit cards? Does individual card utilization have an effect? Is this advantageous to me from a scoring perspective?
Interesting, that's good to know, thanks!
The only card that reports a balance on my report is one with a limit over 50k, so does that make FICO think I'm not reporting any balances on cards? Does it even matter if I do as long as my total utilization is 1-9%?
If your only balance is on a $50k, you are in fantastic shape! That balance is only included in your overall util. You won't get any individual card util score drops. 1%-9% overall util is optimal for Fico scoring. The $2 trick works just fine for scoring purposes.
Simply mindblowing...and you rock, baller4life !
Awww thank you! 😄