01-22-2013 08:08 AM - edited 01-22-2013 08:14 AM
I have a CL out of 13 CLs with 0% APR. My Current Score is 736 (EQ myfico). Overall Balance on CL, $25100, Util 41%.
Citi Card 4692 /8000 limit
How high could i carry a balance on this credit card, with minimal impact on my score? i currently have a code on my report for High Credit Usage with the score of 736.
Thanks in advance.
01-23-2013 06:53 PM
The ocde that you referred to is stating that your high credit use is impacting your score. You want to keep your total balance(s) under 10% of your total credit limits. The higher the credit util the greater impact on the score.
01-24-2013 06:15 AM
To maximise your score you want your overall % util below 10%, any individual card below 10 % util, and less than 1/2 your cards reporting a balance at any time.
01-26-2013 06:52 PM
I understand that its IDEAL to be within 10%. But right now My Utilization for that Single Credit card, is 59%.. I know individual UTIL % and overall UTIL% impacts your score... So since my damage is already done exceeding the 50% individual credit UTIL, thus the score of 736. how far can i exceed above 59% but below 90%, without impacting my Score...not sure if this is an individual CC UTIL or Overall UTIL thing. Because, i want to to pay my taxes u sing that card, without using my cash reserve that i'm saving for showing the mortgage underwriter.
01-26-2013 08:23 PM