Not looking for new credit right now, so is it ok to let 70% utilization report?

[delaney1]

This would be reporting on my QS. My balance last statement  Oct 5th was around $4000. We just got back from a long overdue vacation, so right now my balance is just shy of $7000. I have 0% interest until May 2016. I plan to pay $5000 around the middle of November. In the month of Oct, I have paid $4000 towards my QS, so obviously I'm paying way more than the minimum required. My only other card is freedom with a paltry $500 limit. Would Chase take any AA(not that there is a lot at stake with such a small limit haha). As I said, I'm not applying for any new credit, so scores aren't a big deal. Right now, though, my scores are sitting around 680s because of the 40% util currently reporting.

[fury1995]

In this particular situation I can't see any reason why either Capital One or Chase would take AA.

Again, in this particular situation.

[Dw4250]

Obviously there's never any 100% guarantees but I think you should be fine. Ideally it's better to be at 30% or lower UTL, but as long as you're making regular payments and gradually chipping away at the UTL you should be OK. I would try to get it below 50% as soon as you can, but don't worry about one month reporting.

People tend to get in trouble when they max out a card and STAY maxed out for several months. This is not your predicament.

[Anonymous]

I think you're unlikely to be bothered. You have high use, but you're paying it all off within a couple cycles, so they're probably going to be happy with your performance.

[Anonymous]

As long as you pay a bit more than the minimum and don't default on any other accounts, you should be fine.

[Anonymous]

Good question.

[9CLINE]

Agree w/ previous posters good question and that you'll be ok...I haven't had any AA and carried balances of 60% for a couple mths during 0% times on cards,,,didn't matter to me as I wasn't looking to buy or app for anything.....Good Luck !!!

[Shooting-For-800]

Its only on your credit report as long as you have a balance.

If you pay it off before future statement reports and apply for credit after that statement reports $0 balance it is no different than never having a balance.

Personally, I would send a $100-$200 payment EVERY WEEK so that there is doubt your are going to pay it off and there is no question of you struggling.

[Anonymous]

Good for you taking a vacation. Hopefully next year you can get a card or two to save some money for your next trip.

I don't know much about credit...but seems fine to me. In fact, if any creditor questioned me from similar behavior, I wourld sock drawer them until closing was appropriate.  Cards and limits are meant to be used.  Utilization heals quickly on your scores.

My take, this could help your credit. You may even get a CLI out of this...maybe.

[CreditMagic7]

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@Anonymous wrote:
I think you're unlikely to be bothered. You have high use, but you're paying it all off within a couple cycles, so they're probably going to be happy with your performance.

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+1

Agree