High Credit Card Limits

[Anonymous]

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@smallfry wrote:
I am not sure about EQ and EX but TU did not even acknowledge that I used the card last month. On the summary page the number 3 neggie was did not use a credit card. It was listed as an account with a balance on the credit at a glance page.

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That happened to me a few years ago! 

When you want to show a balance, show it on an account that has a smaller credit line.  I deliberately show a $7 balance every month on my $15,400 CL Citibank card.

[Anonymous]

I retrieved a TU report from January, 2008:

My balance total:

My utility:

My Score:

$7 of my $8997 revolving debt was shown on my lower credit line Citibank card, that I mentioned in a previous post.  You can also see that my utility was only 1%, even though the revolving debt total was $8997:  I do not have $899,700 in total available credit. 

[Anonymous]

I thought that it might be helpful to see how EQ looked at the same amount of revolving debt.  Here's my EQ report, pulled on the same day as the TU report above:

My balance total:

My utility:

My score:

You can see that EQ stated my utilization was 7%, while TU calculated it at 1%.

[MidnightVoice]

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haulingthescoreup wrote: 

MidnightVoice is our sad voice of experience on this, lol. I think his HELOC CL is right at $30K, and EX figures it into his util, while EQ and TU don't, and his EX score is notably lower than the other two. Not that he's hurting, but I do try to work up some sympathy for him.

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EX does not even use the CL of the HELOC - I think it uses the high balance.  

 

And it is  over 40 points below the other two  

[MyDataMyChoice]

Am I reading this right?

I know this is an old topic, sorry!

If i just balance transfered all my credit cards into a credit card with a limit of 30K

Will this not factor into utilization now?

[CreditDunce]

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wrote:

Am I reading this right?

I know this is an old topic, sorry!

If i just balance transfered all my credit cards into a credit card with a limit of 30K

Will this not factor into utilization now?

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It will depend on the FICO model.  I am guessing the above discussion concerned FICO 04/98 scores.  Note, your EX-04 score will still count the utilization on the high limit CC.

I think FICO 08 is more consistent in counting/not counting balances on high limit credit cards.  As in all three CRA's have the same cut-off.  However, I think the cutoff is around 35-40k CL.  There was a thread about the time MyFico switched over to FICO 08 with more details.

The balance will still show up on your credit report.  Under manual review, a large balance will still be looked at.  Moreover, many CCC's use internal scoring models in addition to FICO.  There is no guarantee they will not score the utilization differently.   I have no idea how FICO 9 will handle this.