Better understanding Utilization

[Skye12329]

I have a couple questions about util.

1. When a company looks at whatever it needs or a computer, does it show all the months Utili? Or just your current?

E.g. If i have high util for 6 mos. now and have less than 10% util for 2 months, would it show all of that? (This isnt my util, just wondering)

2. If i have had high util in the past, and am now able to lower it how long should i wait till i reapply?

When my boyfriend lost his job, we did whatever we could to get by, so this involved opening CC and charging large amounts to get by. We finally have been able to make a turnaround after about 6 months of having High Util. Now im able to get my balances down to less than 30% and plan on keeping it below 30 if not 10%. So i was wondering how long do i need to wait till i reapply, so i dont get denied for High Util. - This is currently my boat of Util.

[Dreamwalker]

Current util is based only on the last amount reported to a credit bureau. If you max out a card one statement, and the next you have it at a cool, cool, 1% util, the latter will be the current util.

Some companies report your high balance, and this can be counted against you, but isn't (AFAIK) calculated in your score anywhere. I've had accounts with GEMB, Discover, Chase and Capital One, and Capital One was the only one who reported high balances as much as I noticed. This was important to me because they reported my monthly high as my balance.

[myjourney]

---

@Skye12329 wrote:

I have a couple questions about util.

1. When a company looks at whatever it needs or a computer, does it show all the months Utili? Or just your current?

E.g. If i have high util for 6 mos. now and have less than 10% util for 2 months, would it show all of that? (This isnt my util, just wondering)

2. If i have had high util in the past, and am now able to lower it how long should i wait till i reapply?

When my boyfriend lost his job, we did whatever we could to get by, so this involved opening CC and charging large amounts to get by. We finally have been able to make a turnaround after about 6 months of having High Util. Now im able to get my balances down to less than 30% and plan on keeping it below 30 if not 10%. So i was wondering how long do i need to wait till i reapply, so i dont get denied for High Util. - This is currently my boat of Util.

---

(1)

When a computer looks at it ...see's one month

If manual reviewed can see more

(2)

UTL Forever low ...........so in case you need it in the future for emergencies it's there

You can apply for best results when UTL is 1-9%

[red259]

---

@Dreamwalker wrote:

Current util is based only on the last amount reported to a credit bureau. If you max out a card one statement, and the next you have it at a cool, cool, 1% util, the latter will be the current util.

Some companies report your high balance, and this can be counted against you, but isn't (AFAIK) calculated in your score anywhere. I've had accounts with GEMB, Discover, Chase and Capital One, and Capital One was the only one who reported high balances as much as I noticed. This was important to me because they reported my monthly high as my balance.

---

Wait. I'm a bit confused. I just let a high balance (meaning the balance at the time statement cut not a balance I was carrying) report to the CRAs to show how much I used a card. I thought it was a good idea to do this once with a card to show other creditors the amount I used the card and how I paid it off by the following month. Is this something that can be used against me now? If I had known that I would have just PIF before statement cut, but I thought this was better to do one time. Or are you referring to something else? 

[HiLine]

A high reported balance is bad for you if it is too high, especially if it exceeds the credit limit. Otherwise it doesn't do you any harm. 

[Skye12329]

Ok, so if its manually reviewed, how long should i wait till i reapply again then? Also if its good to keep less than 10% doesnt that lower your chances for better limits and approvals in a way? Because on Cap1 website they state they like to look on how much your using their card, obviously its a way for them to make money, but they take that into factor. 

[Skye12329]

Bump, just need my above question in my previous post answered.

[guiness56]

You can use whatever amount you want to on the card, just do not let more than 9% report to the CRAs.

I wasn't aware that a manual review would show anything different than what a computer sees.  In other words, your balance that is reported is what is scored by FICO.  FICO has no memory of what your last reported balance was, or for the last 6 months for that matter.  Not sure a manual review by any creditor would show anything any different.