9%, 19% 29% UTIs

[Anonymous]

I read a lot about 9/19/29 %s being the different levels of greatness in score.

I want  to maximize my score but not go totally broke in the process with Christmas coming up and what not.

currently 3376/15750 = 21.4%

in order to get to 19.4 (so they dont round up to 20% I woul need 3055/15750 = 19.4%

So if I pay 321 before the next report, Ill be at 19.4. Cool. I can do that math

BUT ... if I paid say $600 that would take me to 2776/15750 which is 17.6%

Is that 1.8% in UTI drop worth it or does just getting under 20% do the trick and then make a lump payment later to get to 9%?

Thanks,

Brew

[peghede]

under 30 ill be fine (28,29) now u go under 20 even better when u have more cash pay more out,don't ruin Christmas for your FICO now.

[Anonymous]

Im about to go into underwriting for a $390k mortgage and the CS will make the difference between 4.0% and 5.0% rate.

Ill ruin Christmas for 4.0% fixed! ha

[peghede]

in that case i guess you the grinch.lol

get the lowest rates posible m8.

[Adkins]

The Grinch is supposed to be green. I thought political stuff wasn't allowed here. 

[HeavenOhio]

The usual thresholds mentioned here are 8.9%, 28.9%, 48.9%, 68.9%, and 88.9%. You may not see an effect at each one of those thresholds, although 8.9% and 88.9% are pretty definite. And 28.9% is considered repoonsible borrowing. 18.9% (19%) isn't likely to do anything score-wise, although lower is always better than higher.

Note that the numbers above end in 8.9. That's because 9.00000001%, 29.00000001%, etc. will round up to 10%, 20%, etc. Hitting a percentage ending in 8.9 or lower keeps you away from rounding up to a critical number.

[Anonymous]

FICO appears to mention breakpoints for aggregate utilization at 8.9, 18.9, and 28.9. but you also have to talk to us about individual utilization on each card as that matters too.

Being at 8.0% utilization aggregate isn't great if one card is 95%.

Also note that if you pay interest it will accrue on statement date and raise your utilization. So go for 8% minus whatever interest might post.

Each card needs low utilization below 28.9% and aggregate should be below 8.9%.

[Anonymous]

Normally, the difference in 16% and 19% does not impact your score. If it did it would be by 2-5 points. Which is not enough to effect your loan underwriting. However, just keep in mind that an actual human looks at your credit profile. They will know the amount of debt you have and they may have their own criteria in rates and approvals. 

Best of luck to you!

[medicgrrl]

It looks like all of your debt is on the one card. If you can get the balance below 29% on the individual card you'll likely see a score increase. I don't think you'll see a score increase for bringing overall utilization below 19%.

[Kforce]

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@Anonymous wrote:

Im about to go into underwriting for a $390k mortgage and the CS will make the difference between 4.0% and 5.0% rate.

Ill ruin Christmas for 4.0% fixed! ha

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A lot of interest lost over time, "Ruin Christmas", make it up next year