amount of debt GREAT??

[Anonymous]

Does anyone have the "amount of debt" graphic say great? 

[Anonymous]

I have that on both my TU and EQ reports:

[Anonymous]

Do you have a low percentage of outstanding debt? no outstanding debt?  installment or revolving?

Thanks for any help 

[Anonymous]

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@Anonymous wrote:

Do you have a low percentage of outstanding debt? no outstanding debt?  installment or revolving?

Thanks for any help 

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On EQ, I'll receive "Great" when my ratio of revolving balances to credit limits is 5% or less. 

I really can't tell you what happens on TU.  I have 3 high credit line cards that aren't factored into my utilization on this report, and my ratio of revolving balances to credit limits generally stays at 1%.

I always make certain to show a revolving balance of at least $7 each month.  I have no installment debt. 

Message Edited by psychic on 11-01-2008 12:17 PM

[MidnightVoice]

I am very good on TU and EQ with less than 5% revolving credit balance

[Anonymous]

I generally have very good with under 3 percent utility. I believe an installment loan with a utility percentage over a cetain level will keep you from great even though you are not really losing many points.

[MattH]

For me it always cites my PERCENT utilization of revolving credit as a positive factor, but gives number of accounts showing balances and total of revolving balances as negative factors, because my wife and I are heavy convenience users with high limits -- we carry very little cash and always pay in full.  I could easily pay down the balances before statement day to bump my scores, but don't really see the need since I rarely apply for credit and have never been turned down.

[Anonymous]

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@MattH wrote:

For me it always cites my PERCENT utilization of revolving credit as a positive factor, but gives number of accounts showing balances and total of revolving balances as negative factors, because my wife and I are heavy convenience users with high limits -- we carry very little cash and always pay in full.  I could easily pay down the balances before statement day to bump my scores, but don't really see the need since I rarely apply for credit and have never been turned down.

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MattH--

I must learn to be more like you! 

I'm always concerned about how many of my accounts will show balances on closing dates.  I won't even grocery shop 2 days before my closing dates, because I'm afraid the charge will post and I won't have time to PIF before the statement closes. 

[marty56]

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@Anonymous wrote:
I generally have very good with under 3 percent utility. I believe an installment loan with a utility percentage over a cetain level will keep you from great even though you are not really losing many points.

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I wondred about that.  I have CC debt from 0% to 9% and I always showed Very Good.  my mortgage is 5 years old and my car loan is 5 months old  so I wondered if it look at them as well.

[GFer]

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@marty56 wrote:

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@Anonymous wrote:
I generally have very good with under 3 percent utility. I believe an installment loan with a utility percentage over a cetain level will keep you from great even though you are not really losing many points.

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I wondred about that.  I have CC debt from 0% to 9% and I always showed Very Good.  my mortgage is 5 years old and my car loan is 5 months old  so I wondered if it look at them as well.

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I think you are to something, because I only had 2 cards report balances: 1 = 1% and the other below 9% (of 8 revolving cards). The only other debt I have is student loan at 20k. On all three amount of debt is 'Very Good'.