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Regular Contributor
My2cents
Posts: 231
Registered: ‎02-16-2008

Re: CC Util Question for Mods

Hi Uniqua:smileywink:

 

Sorry so late.  That would be 9% utilization.:smileyhappy:  And that's not so bad.  You should also watch your pfico as it is an indicator as well.

 

Your Friend

My2cents:smileywink:

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Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008

Re: CC Util Question for Mods


jmbfl wrote:

If you can, pay the two non-WaMu accounts down to zero and pay whatever else you can on the WaMu account. (Having less that half your revolving TL's reporting a balance will increase your FICO scores.) Go ahead and make your purchase and then pay whatever you can later in the month (to WaMu).

 

A FICO score only exists at the exact moment your credit report is pulled. Since you are not intending to apply for credit at this time you have little to worry about. Keep focused on the long run and don't cut things too finely. Micro-management will drive you nuts.

 

Your scores are already hovering around 700. Do not anticipate seeing a large bump at the six month point. The higher your scores are, the less bump you will see. (In fact sometimes when positive changes in your CBR's occur that cause a bucket change your FICO score can actually decrease!)

P.S. I am not a mod. Just a mere mortal poster.
Message Edited by jmbfl on 11-07-2008 12:07 PM

I didn't think of paying off the other two CCs.  At this point, I don't think another payment on the HFCU CC will be posted before the statement drops, so that $95.41 bal may just have to post. The AEFCU CC statement won't drop until 11/28 so that gives me plenty of time to pay it off.  I've decided to pay cash and CC to get the PS3. 

 

I had been purchasing my FICOs each month up until recently when I decided to buy them every 60-days to see where I am.  So, this month makes the 60-day mark and I was actually planning on buying them.  After reading your post, I've decided against that.  It'll probably upset me if I see a drop -- wait, it WILL upset me!  I'll really be looking to obtain a mortgage come the new year anyway. 

 

I have a major derog getting ready to fall off.  Should I be rebucketed and my FICOs decrease, I'm gonna have to pay Mr. Isaac a visit.  He had better have his boxing gloves on!


Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


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Starting Score: 708
Current Score: 743
Goal Score: 800


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Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008

Re: CC Util Question for Mods


My2cents wrote:

Hi Uniqua:smileywink:

 

Sorry so late.  That would be 9% utilization.:smileyhappy:  And that's not so bad.  You should also watch your pfico as it is an indicator as well.

 

Your Friend

My2cents:smileywink:


 

*sigh*  Thanx, but I see that you just don't want to drop the pfico thing, huh?  Ok, just to make you laugh again - that PFICO is PJUNK and when is Chase going to throw it in the PGARBAGE cause I want to get it out of my PFACE!

 

Did you smile?  You are so PSILLY! :smileyvery-happy:


Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


Take the FICO Fitness Challenge


Starting Score: 708
Current Score: 743
Goal Score: 800


Take the FICO Fitness Challenge
Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008

Re: CC Util Question for Mods

Assuming you are rebucketed to a higher/better bucket the bad news is your score could drop a bit - the good news is the ceiling your score can rise to is increased. In the long run being rebucketed to a better bucket is quite to your benefit! Rebucketing is just another one of those situations where watching that FICO score too closely can be maddening!

 

Rather that buying all three scores every month consider a monitoring service. I have both TC and SW and in combination they are good. I have no lack of information and can get a score other that EQ by purchase if I really feel the need. (I did need to buy EX twice this month due to a problem I was having with AMEX. I might not buy another EX score for 6 months to a year. But if something effects my EX CBR I will know it right away!)

Regular Contributor
jacred
Posts: 104
Registered: ‎09-21-2008

Re: CC Util Question for Mods


Uniqua wrote:

Background:
I currently have 3 CCs, all of which were open in June of 2008.

 

Current Balances/CL/Statement Drop Date:

WaMu - $524.18 $2,000 11/25

AEFCU - $236.17 $500 11/28-11/30

HFCU - $155.41 $1,000 11/11-11/13

 

Objective:

WaMu - Pay $300.00 (leaving $224.18 to post on statement)

AEFCU - Pay $236.17 (leaving $0 to post on statement)

HFCU - Pay $60.00 (letting $95.41 post on statement)

 

This will make my util 9%, correct?



 

I just want to point out since I don't see that anyone has mentioned this yet - doesn't utilization percentage matter for BOTH Total and individual card limits?

 

With the above scenario, the utilization percentages are:

 

WaMu: 224.18/2000 = 11.2%

AEFCU: 0/500 = 0%

HFCU: 95.41/1000 = 9.5%

 

Total: 319.59/3500 = 9.1%

 

So the WaMu's individual card limit would be over 10% utilized.

 

Also, if I am remembering correctly, FICO always "rounds up" so both the HFCU and Total utilization would be counted as 10% as well, so this may not be as fully optimized as you'd like.

 

 

(not a Mod but can still calculate percentages) :smileyhappy:


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