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Valued Member
basketsbears57
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
SGT_F
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
Noah_Bodie
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
jenkins
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

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Current Score: 657
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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
jenkins
Posts: 278
Registered: ‎04-29-2007
0

Re: Utilitization?

im lost

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Current Score: 657
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Moderator Emeritus
fused
Posts: 16,373
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 (11-08-2014): EQ 818, 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: 12 years ~ Util: 1% ~ Inqs: EX 1

Frequent Contributor
jenkins
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

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Current Score: 657
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Frequent Contributor
jenkins
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


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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

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