Understanding FICO® Scoring

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magundus
Posts: 15
Registered: ‎12-03-2012

Credit Utilization - Total sum of all accounts or one by one basis?

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‎02-13-2013 10:49 AM - edited ‎02-13-2013 11:03 AM

Does it have a negative impact on FICO if you have one line of credit that is near the limit but a few others that are well below their limits? Do score factors involving credit ulization work by adding up the total balance of all your available credit against the amount utilized on all accounts or is figured on an account by account basis.

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llecs
Posts: 31,442
Registered: ‎08-04-2007

Re: Credit Utilization - Total sum of all accounts or one by one basis?

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‎02-13-2013 11:58 AM

FICO weighs both individual and overall utilization. Certainly overall util holds more weight, but but you have a CC that gets maxed out, FICO will ding you extra for that.

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