How do you figure out utilization percentage

[modernsurrender]

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@rckstrscott wrote:

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@UpmyscoreinFL wrote:
Is the percentage based on per card or total balance verses credit limit available? I have a few high balances and one maxed card. If I pay off the small ones and try to a pay a chunk of the maxed put store card will this give me a decent boost. If I have to calculate utilization by per card I am sunk. There is no way I can pay off my high card any time soon. I have been trying to knock out the small cards that also have the highest interest rates. Also if the card is closed I should try and leave a small balance right? So they keep reporting the limit in my utilization percentages? Is that right?

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If you close a card and leave a balance, wouldn't this mean you would own money to them and if the account is closed, wouldnt this become a dergo (charge off or collections) in time?!?!

-scott

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I also thought that if you closed a card, the balance was still reported but the credit limit wasn't (since you'd no longer have credit with them after closing the card) - which would be terrible for one's utilization.

[MarineVietVet]

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@modernsurrender wrote:

 

I also thought that if you closed a card, the balance was still reported but the credit limit wasn't (since you'd no longer have credit with them after closing the card) - which would be terrible for one's utilization.

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Sometimes the CL is reported even after an account is closed. If both the balance and CL are reported then the account is factored into utilization.

[cd2004]

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@modernsurrender wrote:

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@rckstrscott wrote:

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@UpmyscoreinFL wrote:
Is the percentage based on per card or total balance verses credit limit available? I have a few high balances and one maxed card. If I pay off the small ones and try to a pay a chunk of the maxed put store card will this give me a decent boost. If I have to calculate utilization by per card I am sunk. There is no way I can pay off my high card any time soon. I have been trying to knock out the small cards that also have the highest interest rates. Also if the card is closed I should try and leave a small balance right? So they keep reporting the limit in my utilization percentages? Is that right?

---

If you close a card and leave a balance, wouldn't this mean you would own money to them and if the account is closed, wouldnt this become a dergo (charge off or collections) in time?!?!

-scott

---

I also thought that if you closed a card, the balance was still reported but the credit limit wasn't (since you'd no longer have credit with them after closing the card) - which would be terrible for one's utilization.

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Yes I have a card with Tribute that has been closed since 2009 and it is factored into my utilization. I am hoping to get it paid off this year. Also I have another closed credit card with a balance that has disappeared from my credit report for over a year now