Reply
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

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).
Established Contributor
NJTurnpike
Posts: 662
Registered: ‎02-20-2013

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
Established Contributor
JonStur
Posts: 902
Registered: ‎12-25-2010

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
Established Contributor
NJTurnpike
Posts: 662
Registered: ‎02-20-2013

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
Frequent Contributor
sarkell
Posts: 345
Registered: ‎02-27-2013

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
Established Contributor
knoregs
Posts: 567
Registered: ‎06-04-2012

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: ??? (No Current)
EX: ??? (No Current)
TU: 667 (Discover FICO) 6/12/14

Last App 12/17/13... In Garden 'till July/August '14
Frequent Contributor
tattooedhusker
Posts: 479
Registered: ‎10-25-2012

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 $9.5k | Lowes $17k | Sportsmanss guide $5.5k | Chase Freedom $1k | Discover IT $1.4k |
Walmart $8k | Gordman's $1350 |

Scores: EQ: 676 EX: 714 TU: 720
Established Contributor
kobe2012
Posts: 690
Registered: ‎03-16-2012

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....  :smileyembarrassed: ...


Starting Score: TU: 598 03/23/2012 EQ:607 05/24/2012 EX:607 04/26/2012 (lender pull) EX FAKO:522 03/2012
Current Score: TU(Myfico)04/2013:689 EQ(Myfico)04/2013:701 EX(AMEX pull)04/01/2013:675 (CreditSecure FAKOS) 5/14/2013 EX:726 EQ:701 TU:730 TU(Walmart):699
Barclay Rewards:5k/Cap1:$3.5k/Cap1:$2.5k/Citi TYP:2k/Freedom:$5k/Slate:3k/Marriott visa sig 5k/BCE:$1k/Zync: $500 PSL/Discover IT:$1.9k/Walmart:$8k/Chevron:$5k/Gap:$5k/Kay:$3.4kk



Established Contributor
colindidit
Posts: 665
Registered: ‎11-13-2012

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...
Established Contributor
NJTurnpike
Posts: 662
Registered: ‎02-20-2013

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. :smileyvery-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

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+