I have recently -- in the past month -- taken 0%-2% balance transfers on a bunch of my credit cards, to put into high yield savings accounts for several months. I also applied for some new cards and credit limit increases. (After the fact, I discovered that this process is called doing an 'App-O-Rama', meaning 'ApplicationORama', or 'AOR' for short.)
But since then, I've read some credit forums and discovered things about credit scores, and am left with this question:
Let's say I've reached about 55% credit utilization (TotalBalances/TotalLimit). I understand that high utilization will result in lowering my credit score. I am also planning on applying for a mortgage some time in the coming year.
If I return all the balances to zero, how long will it be before the effects of the high utilization disappear from my score? Thanks!