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Average cc under $2k hurting score?

Frequent Contributor

Average cc under $2k hurting score?

Hey! On my fako exp report, it says one of the things hurting my score is the fact that my average credit cards are under $2000 limit and that makes it harder for lenders to trust me and extend more credit.

With my recent 12.5k Nfcu flagship card set to report soon, this will average my credit limit to over 2k per card if I add up my total credit limits and divide by the number of cards I have. Its around $2500 I believe.

Will this give my scores an increase? Thanks for your help!

9/2013: Fico EQ 676, EXP 686, Fico TU 686.
NFCU Flagship Sig. $14k..NFCU CashRwdsSig $14k..NFCU LOC $12.5k..USAA Amex 4k..AMEX Green NPSL..Discover IT $1.5k...BofA Cash Rewards123 $2.5k...Southwest Premier $2k..Chase Freedom $1.5k..CareCredit $3.5k..Cap1-$1.5k..HSBC $300...Lowes $1.5k...WalMart $1.5k...JCP $1k..Chevron $1.1k..Kays/Jerrod - $5k split. around 8% Util. Want to get in the 700's in 2013! Have three old paid charge offs. 15-20inq.. LAST APP 8/29/13
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5 REPLIES
Senior Contributor

Re: Average cc under $2k hurting score?


dddfresh wrote:
Hey! On my fako exp report, it says one of the things hurting my score is the fact that my average credit cards are under $2000 limit and that makes it harder for lenders to trust me and extend more credit.

With my recent 12.5k Nfcu flagship card set to report soon, this will average my credit limit to over 2k per card if I add up my total credit limits and divide by the number of cards I have. Its around $2500 I believe.

Will this give my scores an increase? Thanks for your help!

Your FICO score does not care what the average CL is.     Larger CL may help get other Large CL but it does not change your score.  

 

The new card may improve your utilization, if it does, it can help your score, but new card and lower AAoA might lower it for awhile.

Message 2 of 6
Mega Contributor

Re: Average cc under $2k hurting score?


dddfresh wrote:
Hey! On my fako exp report, it says one of the things hurting my score is the fact that my average credit cards are under $2000 limit and that makes it harder for lenders to trust me and extend more credit.

With my recent 12.5k Nfcu flagship card set to report soon, this will average my credit limit to over 2k per card if I add up my total credit limits and divide by the number of cards I have. Its around $2500 I believe.

Will this give my scores an increase? Thanks for your help!

FAKO score monitoring services give FAKO advice. It is worthless. Only follow advice found on a FICO credit report from here. The FAKO monitoring services reports are really only good for seeing live report changes.

 




EQ FICO 548 3/3/16
Message 3 of 6
Valued Contributor

Re: Average cc under $2k hurting score?

Yea totally FAKO.  I have seen that on mine as well last year and discussed it here as well.  You are getting the same answers I got and it is clear as day now for me.  So don't worry about it, it means nothing.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 4 of 6
Frequent Contributor

Re: Average cc under $2k hurting score?

Lame. Thank you!! Is there a fico experian?

9/2013: Fico EQ 676, EXP 686, Fico TU 686.
NFCU Flagship Sig. $14k..NFCU CashRwdsSig $14k..NFCU LOC $12.5k..USAA Amex 4k..AMEX Green NPSL..Discover IT $1.5k...BofA Cash Rewards123 $2.5k...Southwest Premier $2k..Chase Freedom $1.5k..CareCredit $3.5k..Cap1-$1.5k..HSBC $300...Lowes $1.5k...WalMart $1.5k...JCP $1k..Chevron $1.1k..Kays/Jerrod - $5k split. around 8% Util. Want to get in the 700's in 2013! Have three old paid charge offs. 15-20inq.. LAST APP 8/29/13
Message 5 of 6
Highlighted
Moderator Emeritus

Re: Average cc under $2k hurting score?

Yes there is, but EX has not allowed their FICO scores to be sold since Valentine's day 2009.  Smiley Sad

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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