Credit to debt ratio

[Anonymous]

I know getting another card is usually going to lower my rate, but if I have utilized 80% of $4000.00 in credit, and keep the balances the same, but get another credit card with, lets say, a $4000 balance, does my debt to credit ratio now go down to less than 50%, or does it calculate based on per card usage instead? Just curious. I am not going to run out and grab more cards.

Stephen

[Anonymous]

Overall and Individual utility are factors....but getting another card at $4k would get you below 50% and help A LOT as long as you don't use the credit line for more than a cheeseburger once every 6 months.

[Anonymous]

Mmmmmmmmm Cheeseburger. Sorry. I am at work and haven't eaten today

Stephen

[marty56]

For my credit profile, total util was the big factor followed by # cards reporting.  With one CC card reporting, the util on the card didn't seem to matter as long as the total util was 9% or less.