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Valued Contributor
Posts: 2,411
Registered: ‎12-09-2013
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What will happen with one TL 'maxed out'?

[ Edited ]

I have a number of new (less than 3 months old) accounts.  I ran the overall UTIL up to about 30%.  The short term plan was paying it all down to less than 10% in March.  That is not going to happen.  I had a ton of offers from Chase Slate so I applied and was approved for $3k, I was hoping for more in the neighborhood of $7k but I might be able to recon that or transfer some available credit from the Chase Amazon account.  I have a long standing banking relationship with Chase, I'm new to their CCs.

 

When I BT to Chase Slate and it reports as being 'maxed out' is that going to do something horrible to my credit report or score?  I will have about $4k on NFCU that I would like to move to 0%.  I can certainly move less and pay a little more in interest if having one maxed out trade line is going to do something horrible to my score.  Mostly I am worried about CLD or Balance Chasing on my AMEX accounts.  I don't think NFCU will care, if Commenity closes my account I'm perfectly fine with that and Chase gave me the new TL so they are ok with what I currently have.

 

I requested the 3X CLI from AMEX on the Delta card last week and was denied.  They listed the reason as my FICO score (653 as of 1/25) they pulled Experian.  I do have score watch here at MyFICO and my Equifax is reporting at 691.  I admit, with a bunch of new accounts, inqs and 30% UTIL I would deny me too!  I didn't even bother with a CLI request on the AMEX Costco card.  After UTIL is down to 3% or less I will request CLIs, but I may need to just let all the new TLs age too.

 

Once I'm down to two 0% TLs AMEX will be my main target since the APR expries in July and of all the cards I hold AMEX is the one that I worry about the relationship with.  I want them to be nice to me with CLIs and maybe other products in the future :smileyhappy:

 

CardDate OpenedCredit LimitAPRCurrent BalanceMarch PaymentBal after PaydownNotes
AMEX Delta Gold12/9/2013              1,500.0019.24%                   210.00                   210.00                                 -   
AMEX Costco12/9/2013              5,000.000.00%                2,541.17                   541.17                     2,000.000% until July 2014
NFCU CashRewards11/23/2013            17,500.0014.65%                7,123.69                3,000.00                     4,123.69 
NFCU nRewards2/9/2013                 500.0017.49%                            -                              -                                   -  Daily use card, always PIF before balance cuts
Chase Amazon VISA12/10/2013              3,000.0022.24%                   763.36                   763.36                                 -   
Chase SWA VISA1/6/2014              5,000.0015.24%                2,167.40                2,167.40                                 -   
NEW!! Chase SLATE2/19/2014              3,000.000.00%                            -                              -                                   -  0% until May 2015
HSN Mastercard12/26/2013              3,500.0021.24%                   141.23                   141.23                                 -   
Inactive Cards       
GECRB - CareCredit6/25/2013              1,200.0025.99%    
GECRB - Sleeptrain5/27/2013              1,500.0029.99%    
Victoria's Secret12/26/2013                 700.0024.99%    
Lane Bryant12/26/2013                 300.0024.99%    
        
Total            42,700.00               12,946.85                6,823.16                    6,123.69 
Utilization   30.32% 14.34% 
        

EQ 679 - 05/02/14 (myfico.com, New Model) | Last App 09/02/14 | Goal: 750+ 9/2014
NFCU nCashRewards VISA - $20,000 | NFCU nRewards $10,000
AMEX Costco TrueEarnings $5,000 | AMEX Delta Gold $1,500
Chase SWA VISA $5,000 | Chase Slate $3,500 | Chase Amazon Rewards VISA $3,000
HSN Mastecard $3,500
Community Leader
Senior Contributor
Posts: 4,705
Registered: ‎11-13-2012
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Re: What will happen with one TL 'maxed out'?

[ Edited ]

Hard to tell on your profile. I was curious myself and let Discover (when limit was 2,5K) report with 90% util...tried to report with 99% but due slow transaction processing that goal not reached. :smileysad:  But the 90% did not impact my score at all but I have to say due to the other cards limits my overal util was only 3%. Still had a score close to 800 when I did this test. For my profile the only thing that really impacts is the number of accounts reporting a balance but as we have seen on this forum it depends on the bucket you are in. I did not believe it so I paid down the 90% and the score did not really change with same overall util. This is with a grain of salt as tested with my own profile only. (only revolving accounts) So others might chime in.

 

edit: test was mainly for EQ Fico - TU from Discover / Barclays I do not get on a daily basis but it was still 776 with 90% util when I did the test

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Last app 01/15/2015
Community Leader
Senior Contributor
Posts: 26,912
Registered: ‎02-07-2013
0

Re: What will happen with one TL 'maxed out'?

You'll see a temporary scoring ding but that's about it and scores will rebound as UTL is lowered

In Fico eyes you will be dinged once for high UTL on the card and then again for being maxed out 

+ Chase ink =




Valued Contributor
Posts: 4,742
Registered: ‎06-05-2013
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Re: What will happen with one TL 'maxed out'?

[ Edited ]

sailor_mercury wrote:
What will happen with one TL 'maxed out'?

How long matters as well. Short term high utilization isn't a problem but prolonged high utilization can lead to AA. Can't give you specific timeframes but I've had a card balance chased for that.

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