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Util ???

Regular Contributor

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 ???
Message 1 of 12
11 REPLIES
Established Contributor

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


Take the FICO Fitness Challenge


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


Take the FICO Fitness Challenge
Message 2 of 12
Established Contributor

Re: Util ???

around 30% is good but around 10% is very good. You have high balance on those cards IMO.
-void
Message 3 of 12
Regular Contributor

Re: Util ???

im paying them off over the next 2 months they should be around 30 % by the time im done 
Message 4 of 12
Super Contributor

Re: Util ???

9% and they round up.  Thats how $15 is 1% of my total util.
10/17/2017 FICO: EQ 829 TU 830 EX 826
Message 5 of 12
Regular Contributor

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 
Message 6 of 12
Established Contributor

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
Message 7 of 12
Established Contributor

Re: Util ???


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
Message 8 of 12
Established Contributor

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
Message 9 of 12
Moderator Emeritus

Re: Util ???

The key is less than 10%.  You will get max FICO points for keeping utilization at 9% or less.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 10 of 12