04-05-2007 06:49 AM
04-05-2007 09:56 AM
I know both are considered by FICO scoring, but which is more important? Im wondering how bad its hurting peoples score to put all of their credit card balances on one card that offers a nice BT rate, as opposed to leaving the balances spread among the cards.If your overall utilization is above 30% you will take a bigger hit. I noticed on my report today that even though my overall utilization is about 14% (until my last card reports) I keep getting a message stating to decrease utilization to less than 35%. I have one card reporting at 51% still as the result of an 80% BT. Once I get that under 35 I'll see what she looks like them.
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