Talk to me about utilization

[camera_jen]

How fluid is utilization %?  If it's high for a few months and I lose points, once it drops below 9% will it boost a lot?  Or will I have to wait it out to continue to rebuild?

I'm aiming to buy a house in a year.  Before the end of the summer I will have to buy a set of braces for my son, purchase a new computer because mine that I purchased in 2009 is barely functioning (shocker), brakes, tires, and strut for my car.  I'm still recovering my savings from paying off my car (which was part of the break up with my ex and not on my credit) THEN having a really major and expensive repair (which cost more than the car payoff, that was a nice joke from the universe).  Some of these things are going to have to be charged.  I'm actually hoping CareCredit turns me down so that I can get in-office financing that doesn't report to the CRAs.  Given that CC pulls EQ, which I'm still battling over zombie debts, I don't foresee getting that approved.

I'm trying to estimate what month next year I need to start the whole mortgage nightmare and I know my utilization will play a huge role since I don't have a lot of credit right now.

[takeshi74]

Revolving utilization is based on whatever your balances and limits are in your report(s).  It's as fluid as the data itself.

That said, there are some that have experienced being stuck in a higher utilization bucket for a period of time.

---

@camera_jen wrote:

I'm trying to estimate what month next year I need to start the whole mortgage nightmare and I know my utilization will play a huge role since I don't have a lot of credit right now.

---

Even for those with a "lot of credit" it matters.  It falls under Amounts Owed.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

[CH-7-Mission-Accomplished]

---

@camera_jen wrote:

How fluid is utilization %?  If it's high for a few months and I lose points, once it drops below 9% will it boost a lot?  Or will I have to wait it out to continue to rebuild?

I'm aiming to buy a house in a year.  Before the end of the summer I will have to buy a set of braces for my son, purchase a new computer because mine that I purchased in 2009 is barely functioning (shocker), brakes, tires, and strut for my car.  I'm still recovering my savings from paying off my car (which was part of the break up with my ex and not on my credit) THEN having a really major and expensive repair (which cost more than the car payoff, that was a nice joke from the universe).  Some of these things are going to have to be charged.  I'm actually hoping CareCredit turns me down so that I can get in-office financing that doesn't report to the CRAs.  Given that CC pulls EQ, which I'm still battling over zombie debts, I don't foresee getting that approved.

I'm trying to estimate what month next year I need to start the whole mortgage nightmare and I know my utilization will play a huge role since I don't have a lot of credit right now.

---

Just FYI, CareCredit pulls TU.

[Anonymous]

I made a huge mistake using care credit. I had to pay $3000 for removal of wisdom teeth an I misterpreted their no interest clause. So now I'm paying waaaaay more than originally charged  due to my own ignorance :/