Reply
Regular Contributor
Posts: 125
Registered: ‎04-17-2007
0

UTIL

How do you figure out UTIL? Balance divided by CL??
 
Thanks
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
0

Re: UTIL



Mshamika wrote:
How do you figure out UTIL? Balance divided by CL??
 
Thanks


Yes. Just remember there are two types of util% calculations: one that calculates each CC and the other is cumulative, that is the total of all CCs.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1
Regular Contributor
Posts: 125
Registered: ‎04-17-2007
0

Re: UTIL

Thanks fused, I just figured them both out, I'm at 53% Total....
 
Cap 1 Visa
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
Regular Contributor
Posts: 125
Registered: ‎04-17-2007
0

Re: UTIL

Screwed the first post up...
 
 
53% overall
 
Cap 1 Visa         88%         $1000 CL
Cap 1 MC          52%          $500CL
Hooters MC       52%          $1000CL
Orchard Bank    91%         $300CL
Kay Jewelers     24%         $2000CL
Target Card       85%         $500CL
 
Which ones should I work on payind down 1st?
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
0

Re: UTIL

How much cash do you have on hand?
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1
Regular Contributor
Posts: 125
Registered: ‎04-17-2007
0

Re: UTIL

$1500 to use for credit cards right now....
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
Contributor
Posts: 95
Registered: ‎06-12-2007
0

Re: UTIL

Start with the one that has the highest rate. Pay it completely. then the next highest one etc. I would recomend you close any cards that have annual fees. Pick your nicest CC, and your nicest store card, and charge a little each month to each. Pay it in full by the due date. Pay all others in full as soon as you can and put them away.
Regular Contributor
Posts: 216
Registered: ‎05-17-2007
0

Re: UTIL

Try these numbers out for size, you'll not like me for suggesting that you come up with another $230.00.  But this will get you to 20% Util on all of your cards.
 
Cap 1 Visa  $680.00
Cap 1 MC    $160.00
Hooters        $320.00
Orchard       $215.00
Kay               $80.00
Target           $275.00
 
The total is $1730.00, and that will get you to 20% Util on all your tradelines individually and 20.94% Util on your total tradelines.
 
It'll help boost your scores and allow you to next month pay a few of the small ones off and toss a few bucks at the bigger ones.
 
Just what I'd do FWIW.
 
Van
 
 
FICO 6/25/08 TU 668 EQ 646 EX 652
FACO 6/25/08 TU 655 EQ 622 EX 641
Recovering from the App Spree that dropped me like a rock. Post Car loan apps as well.
.
Regular Contributor
Posts: 125
Registered: ‎04-17-2007
0

Re: UTIL

Thanks Vanyel! And yes I do NOT like you telling me to come up with another $230 LOL :smileywink: But I will pay what I can with the $1500, u don't think I should pay Orchard completely off (only cc with an AF)?? I will follow your guidelines as closely as I can...UTI is pretty good with Kay right now, so i'll give them less...
 
Thanks for your help....
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
Regular Contributor
Posts: 125
Registered: ‎04-17-2007
0

Re: UTIL

Only one with an AF is Orchard....
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.