Credit Card Center Advertiser Disclosure†
10-26-2013 08:34 AM
10-26-2013 09:30 AM
You may have to do the easy math. $debt divided by $credit lines= utilization, look for the placement of the decimal. Ex $10,000 debt divided by $100,000 credit lines= 10% utilization.
10-26-2013 09:30 AM
Your actual report from the CB isn't going to have a section where it states your UTL - you'll have to figure it out yourself. But that's really not hard to do - just add up your total available CL on your revolving accounts and your total reporting balances. OTOH, reports from Credit Karma, Credit Sesame or ScoreWatch from myFico will tell you the UTL.
Your score will take a temporary hit for the inq's and the new TLs - but like I said, it's temporary. How long the ding will last depends on the thickness of the file. Here, it sounds like you have a very thin file. Garden for the next 6-12 months and you should be fine.
10-26-2013 07:24 PM
10-27-2013 10:02 AM
Also if my Utl was at zero on all 3 reports (because I had no credit )and now just applied for and approved for 3 cc's will this hurt or help my score?
You FICO report (TU or EQ, but not EX) will show your utilization if it is a positive or negative scoring factor (see pgs 2 or 3), but it will not show if it isn't a factor. Otherwise you'll have to caluclate it on your own.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.