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Valued Member
dfitzg
Posts: 36
Registered: ‎06-06-2008
0

Util ???

Macys - 179/600
Household MC - 250.11/500
Cap1 MC - 338/500
Cap1 Visa - 280/500
Chase Visa - 219/400
Target - 230/500
 
 
 
What should my ideal balances be ???
Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008
0

Re: Util ???

If I am doing the math correctly, looks like you're at 50% util.

Util under 10% is best.

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


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Starting Score: 708
Current Score: 743
Goal Score: 800


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Established Contributor
voidman
Posts: 540
Registered: ‎06-07-2008
0

Re: Util ???

around 30% is good but around 10% is very good. You have high balance on those cards IMO.
-void
Valued Member
dfitzg
Posts: 36
Registered: ‎06-06-2008
0

Re: Util ???

im paying them off over the next 2 months they should be around 30 % by the time im done 
Super Contributor
marty56
Posts: 5,696
Registered: ‎10-06-2007
0

Re: Util ???

9% and they round up.  Thats how $15 is 1% of my total util.
11/28/2014 FICO: EQ: 796 EX:788 TU:803
Valued Member
dfitzg
Posts: 36
Registered: ‎06-06-2008
0

Re: Util ???

isnt 10% a bit rediculous, why have it and not use it
 
 
i guess i an use it then pay before the statement cut ...
 
 
thnx for the input guys 
Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008
0

Re: Util ???

It may sound ridiculous, but that is what FICO likes. 30% util is too high.

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


Take the FICO Fitness Challenge


Starting Score: 708
Current Score: 743
Goal Score: 800


Take the FICO Fitness Challenge
Established Contributor
voidman
Posts: 540
Registered: ‎06-07-2008
0

Re: Util ???

[ Edited ]

Uniqua wrote:
It may sound ridiculous, but that is what FICO likes. 30% util is too high.




30% is higher than 10% but its not a bad ratio.

Message Edited by voidman on 06-26-2008 04:24 PM
-void
Established Contributor
voidman
Posts: 540
Registered: ‎06-07-2008
0

Re: Util ???



dfitzg wrote:
im paying them off over the next 2 months they should be around 30 % by the time im done 





good, after that work towards keeping the util around 10% (as it gives IMO *max* score jump on util)

Also, you can *artificially* show 10% util by paying off enough balance before the statement cuts.
-void
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Util ???

The key is less than 10%.  You will get max FICO points for keeping utilization at 9% or less.
 
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