UTILIZATION, Help!

[TryingVeryHard]

Currently I am working on my credit utilization. My utilizations are as follow:

440/500 Home Depot
190/250 First Premier Bank
2770 Deferred Student Loan
0/2000 Newly approved bowflex credit card

I want to know if the approval of my bowflex credit card going to help me with my utilization. I only intend to use $20 out of its $2000 credit limit.

How is my student loan calculated into my credit utilization.

Thanks

[Anonymous]

yes it will. UTIL is gotten by adding all CC limits against amounts owed....not 1 at a time

[llecs]

Your student loan has no impact on util.

[positronicshell]

if you plan on using only $20 of your new $2000 credit line then your UTIL will be as follows:

bow flex 1%
home depot 88%
fp 76%

overall UTIL 24%

so to answer your questions:
yes the approval of your bowflex is greatly helping your overall utilization.
however, your home depot + fp cards UTIl is very high which is hurting you.
if you can pay those down asap it will help you.

student/installment loans do not factor into cc UTIL.
perhaps you can ask for CLI on home depot phone or online CS.
it is a soft INQ if it gives you an offer to accept, if you have to answer/fill out income info then this would be a hard INQ and i is up to you if you want to go there.
getting CLI on home depot + fp cc will improve your individual account UTILs faster.

hope this helps.

xoxox jane

[Anonymous]

Still too many account w/ balances

Don't put anything on the new CC.

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@positronicshell wrote:
if you plan on using only $20 of your new $2000 credit line then your UTIL will be as follows:

bow flex 1%
home depot 88%
fp 76%

overall UTIL 24%

so to answer your questions:
yes the approval of your bowflex is greatly helping your overall utilization.
however, your home depot + fp cards UTIl is very high which is hurting you.
if you can pay those down asap it will help you.

student/installment loans do not factor into cc UTIL.
perhaps you can ask for CLI on home depot phone or online CS.
it is a soft INQ if it gives you an offer to accept, if you have to answer/fill out income info then this would be a hard INQ and i is up to you if you want to go there.
getting CLI on home depot + fp cc will improve your individual account UTILs faster.

hope this helps.

xoxox jane

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[Anonymous]

I am new to the forum. My scores are where yours were in August. What did you do to get them

up in such a short time. Thanks