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High Utilization.....

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kobe2012
Established Contributor

High Utilization.....

One year and 4 months ago my score was sittin @550-600 on all three credit bureaus... Only had one credit card then which was capital one and 4 collections and about 3 or 4 chargeoffs... After finding this forum, I have obtained cards from Amex, discover and chase.... Also a few GE cards and one more cap one..... Just this past month or two, my utilization went up to 30-35% on all three and I don't think I will be able to bring them down to 10-15% at least until 6-12 months.... I owe chase 4800/8000...slate and freedom combine.... Would they decrease my limit cause of this?..they both have 0%intro .... I screwed up my credit when I was young and I do not wanna mess it up again....

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 1 of 4
3 REPLIES 3
john398
Senior Contributor

Re: High Utilization.....

Doubt you will get a CLD for only 30-35% there are some at 80% and no decrease

Message 2 of 4
myjourney
Super Contributor

Re: High Utilization.....


@kobe2012 wrote:
@Anonymous year and 4 months ago my score was sittin @550-600 on all three credit bureaus... Only had one credit card then which was capital one and 4 collections and about 3 or 4 chargeoffs... After finding this forum, I have obtained cards from Amex, discover and chase.... Also a few GE cards and one more cap one..... Just this past month or two, my utilization went up to 30-35% on all three and I don't think I will be able to bring them down to 10-15% at least until 6-12 months.... I owe chase 4800/8000...slate and freedom combine.... Would they decrease my limit cause of this?..they both have 0%intro .... I screwed up my credit when I was young and I do not wanna mess it up again....

IMHO as long as you make above the mininum payments you should be fine banks like when you have a large balance on a 0% .

They hope to see some interest payments down the road when it expires. Just try not not to give them any as it reduces the rewards of the cards and that's a no no

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 4
100down0monthly
New Contributor

Re: High Utilization.....

If you're consistent with how you use the cards, I wouldn't worry about it too much.  If you're constantly at like less than 10%, then suddenly max a few cards, I suppose it could cause lenders to become a little nervous, but then, they'd have to be checking up on you as well.


Message 4 of 4
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