Credit Card Center Advertiser Disclosure†
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
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.