onmyway80 wrote:
My credit report shows a percentage currently available. How does this affect my FICO and is it actually a percentage of credit that has not been used? Does it have anything to do with DTI? Thanks in advance for any assistance you can provide.
MyFICO reports do not show percentage available, but rather it shows percentage used. I do know that EX has a monitoring product that shows % available. Just flip it and subtract 100% from the figure you have.
Utilization is big. It can account for up to 30% of your score. Ideally, you want to have no more than 10% reporting to your CRs.
DTI is a little different. It includes revolving but it can also include other debt payments like mortgage, car loan, etc. FICO does consider amounts owed to the org. balance on these other loans but it is such a small part of the 30%.
