Reply
Valued Contributor
Posts: 1,339
Registered: ‎09-11-2012
0

Debating on UTIL...suggestion welcomed

My util is now about 10% of all my total credit cards

 

The problem is the 10% util is on ONE card. The card is about 66% util or 2/3 of CL.

 

All my other credit cards with bigger CL have zero balance.

 

My quesiton is would this consider to be high utils on credit even knowing that it is only about 9-10% of my total utils?

 

I know that we are supposed to leave one account reporting.... but it that too much?

 

What can I do to maximized it? I am planning to APP next year for BCE and CSP.

 

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Moderator
Posts: 13,761
Registered: ‎04-15-2011
0

Re: Debating on UTIL...suggestion welcomed

I think you're on the right track.  Just have one reporting and have 10% or so.  I'd probably just pay that one down some more, have more no more than 30% reporting on and individual card and let that go.  My total util this month was $6 reporting on my walmart card and gave me a good boost.



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!
Valued Contributor
Posts: 1,339
Registered: ‎09-11-2012
0

Re: Debating on UTIL...suggestion welcomed


Shogun wrote:

I think you're on the right track.  Just have one reporting and have 10% or so.  I'd probably just pay that one down some more, have more no more than 30% reporting on and individual card and let that go.  My total util this month was $6 reporting on my walmart card and gave me a good boost.


Awesome. I was thinking about BT it to larger CL card.. if I do that it would only be about 30% on that individual card.

 

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
0

Re: Debating on UTIL...suggestion welcomed

I had this recently and I took a score ding from it. If one card has high utilization and is maxed out then you will get a hit. At where you are I would just keep paying down. It's almost below 50% and not worth the fees for a BT.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

Re: Debating on UTIL...suggestion welcomed

[ Edited ]

my score went down about 10 points when one of my cards hit 75% limit eventhou 14 % total Utili......


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Senior Contributor
Posts: 6,260
Registered: ‎08-16-2012
0

Re: Debating on UTIL...suggestion welcomed

Obvi you wanna get that down, but if you have low overall util as you do, you should still be able to get approved. I had about 12% overall util with the majority of my debt on one card ($5000/6500$) on my Trav Amex due to a bt offer. I got Chase Freedom w a $5k lim on second recon, Discover Motiva w a $4k lim, and Amex BCE w a $3,500 lim. The obstacle for approval w Freedom was the fact that I had such a high bal on that one card, but I pointed out to the analyst that my overall util was low and he conferred. It'a def worth it imo to just have one high bal at 0% vs. a few tiny balances on high interest cards. As you can see in my siggy, many of my cards are high interest ones. If I don't have 0%, I simply do not use that credit except for building history. Lol in an ideal world, we wouldn't have cc debt, but we all can't be like Dave Ramsey or uhm...Rush limbaugh. Bahahahah
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
Posts: 6,260
Registered: ‎08-16-2012
0

Re: Debating on UTIL...suggestion welcomed

Concurred* lol
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.