Reply
Valued Member
Posts: 35
Registered: ‎05-07-2007
0

Utilitization?

Hi, I have read that util is to be 1-9% - but I thought I also read somewhere to get it under 30% is good also - I was thinking of moving my "maxed - out" credit card to a larger open line to have better util on that card.  Any input is appreciated.
Thanks - Lynn
Regular Contributor
Posts: 131
Registered: ‎05-06-2007
0

Re: Utilitization?

It's like 30% UTL is the 2nd Alternative for as points. UTL between 1-9% is like the 1st Atl... and will get you the max points...where 50% UTL is the 3rd and last Alt...and over this it will start hurting you.
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Utilitization?

"Load balancing" will help. Even one CC with over 50% util tends to sting a lot. Better to have two CCs with 30% than one with 1% and another with 70%.
 
Frequent Contributor
Posts: 278
Registered: ‎04-29-2007
0

Re: Utilitization?

[ Edited ]
im new to this whole utl thing can someone explain this to me as i prepair to send out my check for my BOA secured cc


Message Edited by jenkins on 07-05-2007 04:25 PM

Starting Score: 643
Current Score: 657
Goal Score: 700


Take the FICO Fitness Challenge
Established Contributor
Posts: 739
Registered: ‎06-30-2007
0

Re: Utilitization?

It's my understanding that it is 30% over all Util and to to keep individual accounts under 10%
 
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Frequent Contributor
Posts: 278
Registered: ‎04-29-2007
0

Re: Utilitization?

im lost

Starting Score: 643
Current Score: 657
Goal Score: 700


Take the FICO Fitness Challenge
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
0

Re: Utilitization?



jenkins wrote:
im lost


My fingers are sore, try reading Tuscani's credit scoring thread.
 
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Frequent Contributor
Posts: 278
Registered: ‎04-29-2007
0

Re: Utilitization?



fused111 wrote:


jenkins wrote:
im lost


My fingers are sore, try reading Tuscani's credit scoring thread.
 


thank you

Starting Score: 643
Current Score: 657
Goal Score: 700


Take the FICO Fitness Challenge
Frequent Contributor
Posts: 278
Registered: ‎04-29-2007
0

Re: Utilitization?

so basically dont max out the card try to keep a good ratio of balance to creit limit

Starting Score: 643
Current Score: 657
Goal Score: 700


Take the FICO Fitness Challenge
Established Contributor
Posts: 739
Registered: ‎06-30-2007
0

Re: Utilitization?

Say  you have one card with a $2000 and another with a $3000, making $5000 available credit
 
so idea is to keep the combine balances not any higher than $1500($5000*30%)
 
and keep the $2000 card under $200 and $300 for $3000 limit card
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.