High utilization ..

[Anonymous]

I was wondering if having high utilization hurts ur score in the long run...I'm close to 90% percent for like about 4 months But never missed a payment gave more that the required . Just that I'm planning to pay off everything with my tax refund . Im not applying for anything or anything of that sort , but just wondering if it hurts on the long run having that high util show?

[LilloEsquilo]

It hurts only until you pay it down and the card or cards in question report the new limit - then the pain is gone!

[seattletravels]

90% utlilization is killing your score.  You should see a pretty significant increase as you pay it down.

[Anonymous]

Your credit score is a snapshot in time.  It has no memory.

[Anonymous]

SWEET! Lol I should be good then April comes it'll mark one year of credit history and the first thing I'm going to apply for is the zync and discover more.

[Wolf3]

---

@Anonymous wrote:

Your credit score is a snapshot in time.  It has no memory.

---

The credit report has no history of utilization, so only the current utilization matters.     That is why I only worry about utilization when I want to apply for more credit.  

[seattletravels]

---

@seattletravels wrote:

90% utlilization is killing your score.  You should see a pretty significant increase as you pay it down.

---

I really should read a whole post before responding.  I didn't notice the 'in the long run' part. hehe

[Anonymous]

Wow.  That's good to know.  I was starting to think I knew everything about credit scoring until I read that.

[LilloEsquilo]

---

@seattletravels wrote:

---

@seattletravels wrote:

90% utlilization is killing your score.  You should see a pretty significant increase as you pay it down.

---

I really should read a whole post before responding.  I didn't notice the 'in the long run' part. hehe

---

Technically you were right, you just didn't catch that part