Utilization question

[Anonymous]

Hey guys, very new here to the forum. I find it very knowledgeable and entertaining at the same time. I have a question: when you talk about Utilization as part of your FICO score, does it take into consideration all credit cards? major credit cards and department store cards like Best buy and Gap(which are the ones I have) as well? I want to calculate my utilization percentage but didn't know if I have to include the store cards. Thanks for your info....

[Anonymous]

My understanding is, anything that is a revolver. If you have a charge account that must be PIF each month, it does not count in utilization.

[Anonymous]

Welcome to the FICO Forums, xavante.

Contractor is correct.  All revolving accounts are included in utilization, including store cards.

[Anonymous]

The only revolvers that don't count in your utilization are Charge Cards (like Amex Green, Gold, and Platinum) because they have no reported limit and must be paid in full every month.

The other thing that may be included in revolving utilization is a Line of Credit from your bank or credit union or a Home Equity Line of Credit (HELOC) less than 50k. If you have low balances on your cards but high amounts on these lines your overall utility will be shot. If you have a HELOC above 50k it is scored as an installment loan and impacts your score much less so.