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Just blew myself to 40% util

Super Contributor

Re: Just blew myself to 40% util

haha at least you have a plan. 

I got caught off guard by CSP statement closing date and it reported >95% utilization LOL.


This is a really bad month for me. I've US Bank, Barclays, Freedom all reporting at 60+% as well. Already paid them in full except for the Barclays, but chose to do it after statement cuts so that it will show a high "high balance" on my CR to prove I'm using those cards a lot as well. Discover and Citi is going to kill my score further once they report those new accounts. They're at 80% and 25% respectively and I'm paying it off in full once statement reports. I seriously hope I'm not going to get any AA this month. My scores on CreditKarma is at 680ish when I checked last Friday. I was originally 750-760ish. I expect it to be at 600-650 soon lol....

 

On the other hand, the month of June will be a good month once most of my cards report 0 balance. 

 

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 11 of 28
Established Contributor

Re: Just blew myself to 40% util


dddewdrop wrote:

I charged up to like 90% on one a couple months ago and paid it down as quick as possible. That card and all my cards are now several miles away from me physically and for good reason. I have to think a bit before charging anything if they are in a hard to get place. I was aweful with credit in the past and I live in fear every day of going into debt again. I have a major life drama mama for a wife so I have reason to be afraid.... She doesn't know I have credit cards. She thinks my credit score is still in the 400s and that I still owe tons of debts. It is better for me that way for now....


Sounds like you have more issues than just credit card debt. don't mean to sound judgey, god knows my finance and I are not on the same page about alot of things. Don't know what advice to offer you really though as I know exactly how hard it can be to instill financial/personal responsibility and long-term planning on someone who's never been taught those values.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 12 of 28
Established Contributor

Re: Just blew myself to 40% util

Yea I know how it is being a FSW..(FICO Score Watcher), and seeing that score drop. And although you may not plan on appping for a while so it should be no big deal, you never know if one of your current creditors will soft you, and have their automated system send up the red flags. So there is some merit, albeit a slight one, in being a little uneasy.

Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Message 13 of 28
Established Contributor

Re: Just blew myself to 40% util


JonStur wrote:
Yea I know how it is being a FSW..(FICO Score Watcher), and seeing that score drop. And although you may not plan on appping for a while so it should be no big deal, you never know if one of your current creditors will soft you, and have their automated system send up the red flags. So there is some merit, albeit a slight one, in being a little uneasy.

You are correct that I am uneasy about being at +40% util, however this was a conscience decision and I positioned myself as best I could within the time frame I had to work with. now its a race to pay them all down before before any of my creditors get twitchy that I'm carrying balances across a number of cards for a few months.

Amex is my biggest concern as I need to keep in their good graces at least until I get my sign up bonuses +150k MR. I need those points to pay for a couple flights early next year. Beyond that, if any of my creditors takes an AA on me, I can just rebuild (hammer EO's and such) to get back my limits.

 

As a bonus, for the next year or so, I get to constantly complain to family how I have so much credit card debt, thus making them think I have no money and can't be a source of interest free long-term (sometimes never) loans.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 14 of 28
Frequent Contributor

Re: Just blew myself to 40% util

I'm there too well after this month ill be at two balances on two cards. Then paying off by end of summer. I'm about to sd everything but two balance cards. But there are few I need out small charges on. I haven't used.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


Take the myFICO Fitness Challenge
Message 15 of 28
Established Contributor

Re: Just blew myself to 40% util

I feel your pain... I'm currently running about 65% util and my scores have dropped 100+ points. I hope to get these paid down in the next few months so I'm sure scores will rebound nicely. Just worried my secured BOA card will stay secured instead of graduating in June.

~kn

EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Message 16 of 28
Established Contributor

Re: Just blew myself to 40% util

Life changes are a drag, I'm bumped up to 20% currently. Should have them down sooon though. Hang in there.

NFCU CashRewards $13.5k | AMEX BCE $15k | Lowes $17k | Sportsmanss guide $7.6k | Chase Freedom $1k | Discover IT $4.4k |
Walmart $8k | Gordman's $2950
Message 17 of 28
Established Contributor

Re: Just blew myself to 40% util

I think I will soon be around >30% utility also.... really wanna pay them off if not pay them down by jan 2014....  Smiley Embarassed ...


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 18 of 28
Established Contributor

Re: Just blew myself to 40% util

@ddewdrop I'm the same way I try not to spend as much as possible but my fiancee knows my credit is good and takes advantage of that and Likes to buy stuff on my cards or ask me to apply for cards because she's terrible at maintaining healthy credit habits
Wallet: Barclay-5k, Citadel MC- 5k, Slate- 4k, Freedom- 3k, BOA- 3k, Citi- 2k, AMEXBCE- 2k and more...
Message 19 of 28
Established Contributor

Re: Just blew myself to 40% util


colindidit wrote:
@ddewdrop I'm the same way I try not to spend as much as possible but my fiancee knows my credit is good and takes advantage of that and Likes to buy stuff on my cards or ask me to apply for cards because she's terrible at maintaining healthy credit habits

Need to set longer term goals with your finance. Something as silly as a poster board with a vacation savings goal might help. either get her involved or she'll continue to be a passive spender rather than an active contributor. you have to tread carefully when it comes to significant others and their own good/bad financial habits for sure, but its something that needs to be discussed with some frequency.

 

Back on topic. my util sucks. time for ask for a CLI on amazon store card before that util reports. hehehe. Smiley Very Happy


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 20 of 28