Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 382
Registered: ‎06-26-2012
0

Util question/scenario

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.

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
Posts: 2,789
Registered: ‎10-10-2012
0

Re: Util question/scenario

You will definitely see a drop. How major is hard to say. Maxing out a card is using more than 90% of the credit extended to you on that line. Maxing out a card can be a red flag to lenders.

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
Current Score: EQ 816 EX 780 TU 823
App free since 4/11/13
Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

Re: Util question/scenario

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.......


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Frequent Contributor
Posts: 382
Registered: ‎06-26-2012
0

Re: Util question/scenario


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.

 

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
0

Re: Util question/scenario

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.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Highlighted
Frequent Contributor
Posts: 382
Registered: ‎06-26-2012
0

Re: Util question/scenario


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.

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
Posts: 1,712
Registered: ‎01-05-2010
0

Re: Util question/scenario

Time is mo.. Sorry, your $3 are up. Smiley Very Happy

Never underestimate the power of denial
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.