11-03-2007 03:29 AM - edited 11-04-2007 09:55 AM
11-03-2007 09:31 AM
11-03-2007 10:05 AM - edited 11-04-2007 10:00 AM
11-03-2007 11:20 AM
11-03-2007 12:17 PM
You might see max FICO points with regard to revolving util% calculations but it really depends on your scores and which scoring bucket you're in. As for overdraft protection, it's usually reported as a revolving TL so treat it the same way you would with a CC TL and keep util at zero or no higher than 9%.
In relation to Credit cards: Optimal utilization being between 1% and 4%. What If I kept it under 1% and above 0% at all times?Will it hurt?Will it help?Will it make no difference?ALSO:Same question as above in relation to checking account overdraft protection?Will it hurt?Will it help?Will it make no difference?Thank you in advance.
Message Edited by AllTheNationsWillMournUSA on 11-03-2007 03:38 AM
Message Edited by AllTheNationsWillMournUSA on 11-03-2007 04:20 AM
11-04-2007 07:15 AM - edited 11-04-2007 09:30 AM
11-04-2007 01:55 PM
AllTheNationsWillMournUSA wrote:My monthy cc's expenses have me under 1% and I have no other expenses I can add on them to bring it to 1% - 4%.So unless I waste money and "make up" expences to add on to the cc's to bring it to 1%-4%( and thats not an option) I will need to lower my credit limits. Will lowering my credit limits hurt my score? Thats why I was asking and hoping that optimal utlz. IS BETWEEN .0000001% - 4% and NOT BETWEEN 1% - 4%. Im pretty sure lowering my limits will HURT my score because it will affect my past history high utlz. Right now, My high utlz. history is at 25% ,lowering my limits to reach stated goals will easily bring it over 50% high history utiz. So I might be powerless to do anything about it.
Message Edited by AllTheNationsWillMournUSA on 11-04-2007 09:30 AM
11-04-2007 01:59 PM
AllTheNationsWillMournUSA wrote:My monthy cc's expenses have me under 1% and I have no other expenses I can add on them to bring it to 1% - 4%.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO