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Established Contributor
Posts: 569
Registered: ‎04-26-2007
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Re: 0-9% utilization of revolving accounts

The answer to your first question is YES, the utilization is calculated by subtracting the total revolving debt from the total of your revolving credit, credit limits.
FICO scores on November 17, 2014 (prior to applying for and being approved my mortgage)

EX=738
EQ=735
TU=754

FICO scores on March 4, 2015 after being approved for mortgage and buying the home, the mortgage isn't yet reporting.
EX- 689 EQ- 739 TU- 739
Established Contributor
Posts: 749
Registered: ‎08-19-2007
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Re: 0-9% utilization of revolving accounts

tuscani, is that report from myfico?
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: 0-9% utilization of revolving accounts



scramblingin2007 wrote:
tuscani, is that report from myfico?



Yes
New Member
Posts: 4
Registered: ‎08-26-2007
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Re: 0-9% utilization of revolving accounts

  • Here is the message I get on my report. It would seem that according to this 20% is still OK. My total available credit is over 500k if that makes a difference.
    1. You've limited the use of your available credit.
                     Ratio of your revolving balances to your credit limits
                     20%For FICO High Achievers [?], this ratio is 7%, on average.
    1. Your FICO score evaluates your total revolving account [?] balances in relation to your total credit limits on those accounts. Your FICO score was helped because you've kept this ratio of balances to credit limits low.

     

     

        "Go Ask Alice"
        Senior Contributor
        Posts: 4,831
        Registered: ‎04-20-2007
        0

        Re: 0-9% utilization of revolving accounts


        Tuscani wrote:
        using your cards and keeping a 1-9% util is ideal.. from my reports:
        What’s helping your FICO score

        The positive factors listed here reflect areas of your credit behavior that are helping your FICO score. You should continue the good practices listed here. These factors are listed in order of their impact to your score – the first has the greatest positive impact and the last has the least.

        1. You have no missed payments on your credit accounts.

          Number of your accounts with a missed payment 0 accountsAbout 93% of FICO High Achievers [?] have no missed payments at all. But of those who do, the missed payment happened nearly 4 years ago, on average.

          You helped your FICO score by paying your bills on time. Staying current with your bills will continue to help your score.

        2. You've limited the use of your available credit.

          Ratio of your revolving balances to your credit limits 1%For FICO High Achievers [?], this ratio is 7%, on average.

          Your FICO score evaluates your total revolving account [?] balances in relation to your total credit limits on those accounts. Your FICO score was helped because you've kept this ratio of balances to credit limits low.

        3. You've shown recent use of credit cards.

          Your FICO score evaluates your mix of credit cards [?], installment loans and mortgages. People who demonstrate responsible use of different types of credit are generally less risky to lenders. You helped your FICO score by showing recent use of a credit card.

        Message Edited by Tuscani on 09-13-2007 11:38 AM
        How come I'm not surprised to see your utilization at 1% and not 9%?
        Senior Contributor
        Posts: 4,635
        Registered: ‎03-11-2007
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        Re: 0-9% utilization of revolving accounts

        Frequent Contributor
        Posts: 436
        Registered: ‎06-15-2007
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        Re: 0-9% utilization of revolving accounts

        WTG Tuscany!!!!
        Moderator Emeritus
        Posts: 6,182
        Registered: ‎03-29-2007
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        Re: 0-9% utilization of revolving accounts

        I usually float between 1-9%. I have never noticed any real difference while in that range.
        Moderator Emeritus
        Posts: 9,252
        Registered: ‎03-19-2007
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        Re: 0-9% utilization of revolving accounts

        Nice job

        You might think you were in the middle of a mortgage....
        Senior Contributor
        Posts: 4,831
        Registered: ‎04-20-2007
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        Re: 0-9% utilization of revolving accounts



        Tuscani wrote:
        I usually float between 1-9%. I have never noticed any real difference while in that range.



        But you aren't paying interest on the cards right? There is a vast difference between letting a card report 1-9 and paying before the due date and just letting the balance ride to pay interest. Let me give you an example as an illustration and kindly give me your input. Say you have 6 credit cards. How many of the 6 do you allow to show a balance on the cut date? Are you using all 6 monthly or do you rotate 2 each month? Thanks T.
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