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Just blew myself to 40% util

Frequent Contributor

Re: Just blew myself to 40% util


knoregs wrote:
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

as always it's a variable with people but my util was @ 69% the month my BofA unsecured & my CL was doubled+

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Message 21 of 28
Regular Contributor

Re: Just blew myself to 40% util

It all depends on his total revolving credit. If it's only $500, charging $200 is not much to bounce back from. Lol! Smiley Happy

In all seriousness, im glad you're tracking your spend and have a plan to pay it off!
-------------------------------------------------------------------------------------------------
Starting Score - 575 (4/10)
Current Score - EQ - 750, TU - 752, EX - 728 11/4/12

Current Cards:
AMEX SPG ($7.5k), Amazon.com Visa ($3k), Discover More ($2k) all since 11/4/12

Fighting the good fight!
Message 22 of 28
Established Contributor

Re: Just blew myself to 40% util

Next time I call for increases on my GE cards I'm asking for 10k on each haha
Wallet: Barclay-5k, Citadel MC- 5k, Slate- 4k, Freedom- 3k, BOA- 3k, Citi- 2k, AMEXBCE- 2k and more...
Message 23 of 28
Established Contributor

Re: Just blew myself to 40% util

I'm going to use this high util period to experiment a little with my credit lines. around the end of June/July, I'm going to see who is will to give me CLI's.

 

Amazon store card will hit 4 months in mid June, going for a nice bump there.

Just for fun, may try for a Freedom and Forward (student...ugg) card in August.

 

And in the fall just before thankgiving in time for the holidays, I'll give it another go for CLI's that failed to materialize at the end of summer.


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 24 of 28
Established Contributor

Re: Just blew myself to 40% util


NJTurnpike wrote:

I just blew myself to 40% util over the past week. Sigh....

 

Luckily everything that will carry a balance is at 0% for the next 11-14 months. Smiley Very Happy And not to worry, I have my massive "better than mint.com" spreadsheet to keep myself organized.

 

Life changes can be so expensive sometimes.


I am new to this and a little confused....if you go over  30% for a month or 2...but pay it back down to under 30% how does this affect your score? Does it have a long lasting effect is what I am trying to get at.

 

Cheryl

Current as of 7/10/17 EQ 598 TU 611 EX 629
Discharge 7/2016 Ch 7 BK
Message 25 of 28
Established Contributor

Re: Just blew myself to 40% util


Cheryla18 wrote:

NJTurnpike wrote:

I just blew myself to 40% util over the past week. Sigh....

 

Luckily everything that will carry a balance is at 0% for the next 11-14 months. Smiley Very Happy And not to worry, I have my massive "better than mint.com" spreadsheet to keep myself organized.

 

Life changes can be so expensive sometimes.


I am new to this and a little confused....if you go over  30% for a month or 2...but pay it back down to under 30% how does this affect your score? Does it have a long lasting effect is what I am trying to get at.

 

Cheryl


Util only affects you in that cycle, manual reviews not withstanding of course.


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 26 of 28
Super Contributor

Re: Just blew myself to 40% util


Cheryla18 wrote:

NJTurnpike wrote:

I just blew myself to 40% util over the past week. Sigh....

 

Luckily everything that will carry a balance is at 0% for the next 11-14 months. Smiley Very Happy And not to worry, I have my massive "better than mint.com" spreadsheet to keep myself organized.

 

Life changes can be so expensive sometimes.


I am new to this and a little confused....if you go over  30% for a month or 2...but pay it back down to under 30% how does this affect your score? Does it have a long lasting effect is what I am trying to get at.

 

Cheryl


it does not have any long lasting effects.

 

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 27 of 28
Frequent Contributor

Re: Just blew myself to 40% util

Credit card debt should be avoided with zero apr in my opinion. Why spend your future today based on your potential future earnings. Very few people want to actually default till circumstances due job or business loss force them to think hard about credit card debt. Don't spend money thinking I can always get another zero apr card because credit card companies will not have your back when you need their help the most. People have short term memories and no longer remember balance chasing done during tough periods.


PNC Secured 2000 (Dec12), Chase Amazon 2000 (Apr13), CapOne Newcomer 2500 (May13), Citi dividend 3000 (May13), Discover IT 1000 (Jul13), Amex BCP 6000 (Jul13), Chase Southwest 10000 (Jul13), Chase Marriott 12000 (Oct 13), BofA Travel Rewards 5000 (Dec13)

- In garden till Dec 2014
Message 28 of 28