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Would a drop from 91% to 68% utilization on one card sign...

Established Member

Would a drop from 91% to 68% utilization on one card sign...

Would a drop from 91% to 68% utilization on one card significantly effect my credit score or would it have to drop below 50% or 30%?
 
 
Message 1 of 14
13 REPLIES
Moderator Emeritus

Re: Would a drop from 91% to 68% utilization on one card sign...

It might have a small impact.. It really depends on what else is on your file.
Message 2 of 14
Moderator Emeritus

Re: Would a drop from 91% to 68% utilization on one card sign...

I have read that you start getting dinged after 50% util so I would think unless your overall util is below 30% you may still be feeling this one ouch!
Message 3 of 14
Established Member

Re: Would a drop from 91% to 68% utilization on one card sign...

It has a relatively small credit limit of 7,500, its only high because of a low interest rate offer. Overall my credit utilization is 35% After I get my tax refund I should be able to get both that card and the overall utilization under 30%
Message 4 of 14
Moderator Emeritus

Re: Would a drop from 91% to 68% utilization on one card sign...

Try and get it under 10% (but not paid off) for the biggest increase.
Message 5 of 14
Regular Contributor

Re: Would a drop from 91% to 68% utilization on one card sign...

i got a 9 point increase going from about 88% to around 62%.
Message 6 of 14
Senior Contributor

Re: Would a drop from 91% to 68% utilization on one card sign...

Under 10% but not paid off huh? How would that apply to a Capital One credit card which doesn't report the credit limit? Assume a high credit of 5000 bucks would you aim to leave about 4-500 on the balance then? It seems like I'm trying to hit a moving target with this card.
Message 7 of 14
Moderator Emeritus

Re: Would a drop from 91% to 68% utilization on one card sign...



smallfry wrote:
Under 10% but not paid off huh? How would that apply to a Capital One credit card which doesn't report the credit limit? Assume a high credit of 5000 bucks would you aim to leave about 4-500 on the balance then? It seems like I'm trying to hit a moving target with this card.


4-500 would work.. but remember.. you have to max that card out and then pay it off before your CL is shown! It's such a pain.
Message 8 of 14
Moderator Emeritus

Re: Would a drop from 91% to 68% utilization on one card sign...

Did you have any other cc with util above 50%? What is your overall util like? I'm trying to figure out if other factors could be contributing. I paid down 10 cards that were max to some under 25% and others to under 10% and I am anxiously awaiting the results.
Message 9 of 14
Regular Contributor

Re: Would a drop from 91% to 68% utilization on one card sign...

yes...i think.  i just paid down a card to about 65% utilization and it was basically maxed out like yours so the ratios were similar and i saw a 16-27 point increase. 
Message 10 of 14