IF I nearly max out a card that is my lowest limit, and I have 2 other cards that have over double the limits - should I expect to see a MAJOR point drop?
I'm not too concerned since I just got a new WM card so I'm not looking to app for anything soon, but I have been working on keeping everything on the upswing, and not on the down.
My CLs are 300, 750 and 700 with current util at 0%, <1%, 0%.
If I maxed out the $300 card, that would put my card util to 100%, 1%, 0% but my overall util would only be around 17% which isn't 10% but still pretty low. Will I see a nose dive for "maxing out my card" or is it going to consider the fact that out of the other $1450 I've only used a whopping $10?
I have a purchase I'm going to make and since I can get 1% cash back on it, I'd rather use that card, but not if I'm going to see a nose dive for maxing out 1 card.
However if you are going to pay it off rather quickly and do not plan on applying for credit you may be ok.
Personally I would break it up and try to keep each card under 50% utilization.
Starting Score: EQ 717 EX 724 TU 736
Starting Score: 560
nicholasyud wrote:I don't think it's good idea to max out any card.....it's normally drop about 10 points........if you really want to used that card to get 1%cash back then you should paid it before statement cut off time.........it's just my suggest.......
That would be the plan, however CAP 1 has been draaaaaaaaaaaaaaaaaging their feet when it comes to posting things to my account lately.
My statement closes next week, but with Gobble-fest (thanksgiving) who knows what that will do. This was more of a "what if scenario" for me, what if they don't post it they day they cut the statement and I have no time to pay it.
I'll probably just put it on the other card since that wouldn't even push it to 50% and that statement closes after thanksgiving so I know it will post and give me time to pay it down prior to the statment closing.
Thanks, for the info.
Jutz wrote:Do you mean posting purchases, or posting payments has been slow? My payments have FINALLY been posting quickly to my Cap1 account, but purchases take like 3-4 business days until they post and allow me to pay.
Purchases. Payments have for the most part posted next day (except for sunday payments) when I pay online. However I've had payments at some pretty big stores (target/walmart/etc) that have taken a full week to post. But then others that will post after a couple days.
I'm afraid if I use the card, and it doesn't post next day, but rather it waits a week, between that and then thanksgiving it would mean that I wouldn't be given the opportunity to pay before the statment closes, however it will have posted to this months statement.
I'm not going to risk it - sure I'll loose the $3 but oh well I'm not going to play utilization roulette for $3.
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