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Established Contributor
Posts: 656
Registered: ‎07-17-2007
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What about less than 1% util?

I do know that 1-9%; util is best for your score. But what if your balance is not zero but less than 1%? How does that effect your score? Is it good, bad, or good but not as good as if it where >1%?
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
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Re: What about less than 1% util?



KingAdrock wrote:
I do know that 1-9%; util is best for your score. But what if your balance is not zero but less than 1%? How does that effect your score? Is it good, bad, or good but not as good as if it where >1%?


FICO will pick it up as 1%.
Established Contributor
Posts: 656
Registered: ‎07-17-2007
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Re: What about less than 1% util?


smallfry wrote:

KingAdrock wrote: I do know that 1-9%; util is best for your score. But what if your balance is not zero but less than 1%? How does that effect your score? Is it good, bad, or good but not as good as if it where >1%?
FICO will pick it up as 1%.
Really? Any non-zero balance is counted as 1%?
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
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Re: What about less than 1% util?

Yes- Fico Rounds UP

KingAdrock wrote:

smallfry wrote:

KingAdrock wrote: I do know that 1-9%; util is best for your score. But what if your balance is not zero but less than 1%? How does that effect your score? Is it good, bad, or good but not as good as if it where >1%?
FICO will pick it up as 1%.
Really? Any non-zero balance is counted as 1%?


Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
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Re: What about less than 1% util?

Yep, the "1-9%" that you always hear around here is just shorthand for saying, "greater than $0 but less than 10%."
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Established Contributor
Posts: 656
Registered: ‎07-17-2007
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Re: What about less than 1% util?


cheddar wrote:
Yep, the "1-9%" that you always hear around here is just shorthand for saying, "greater than $0 but less than 10%."

That is the best news I have ever heard.
Moderator Emeritus
Posts: 1,518
Registered: ‎04-20-2007
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Re: What about less than 1% util?

I have 1% utility showing on my TU report (I have a few very high credit limit cards that report revolving as installment, but I won't get into that here)--
 
Ratio of your revolving balances to your credit limits
                                     1%
 
However, the actual ratio is only 0.02443%
EQ 814 / TU 815 / EX 842
Senior Contributor
Posts: 4,596
Registered: ‎09-14-2007
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Re: What about less than 1% util?



psychic wrote:
I have 1% utility showing on my TU report (I have a few very high credit limit cards that report revolving as installment, but I won't get into that here)--
Ratio of your revolving balances to your credit limits
1%
However, the actual ratio is only 0.02443%





Wow psychic! You reached the magic number. How in the world did you do that? Crunch numbers for an hour? :smileyvery-happy:
"Never ever, ever be late. Never" (FUTR)
Established Contributor
Posts: 762
Registered: ‎10-23-2007
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Re: What about less than 1% util?

good info to know!!
I want to join the 700 club one day I am getting there :smileywink:
FICOS 12/17/07 EQ-597 EX-651 and TU-651
FICOS 01/18/07 EQ-594 EX-651 and TU-662 FICOS
04/21/2008 TU-680 EQ-613 EX-688
Regular Contributor
Posts: 236
Registered: ‎01-08-2008
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Re: What about less than 1% util?

[ Edited ]
That is great info to know! Especially for me while I'm on my quest to get below 10%. Now I know that I don't just need to get below 10%, I need to get below 9%. I probably would have bought all new reports as soon as I got to 9.2% but now I know different. I love this place! :smileyhappy:

Edit: spelling error

Message Edited by Moobs on 03-11-2008 10:23 AM
Word... To your Mothers... All of them

TU(2/14/09)=719 EQ(2/2/09)=696 EX(1/21/09)=704
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