Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012
Util question/scenario

IF I nearly max out a card that is my lowest limit, and I have 2 other cards that have over double the limits - should I expect to see a MAJOR point drop?

 

I'm not too concerned since I just got a new WM card so I'm not looking to app for anything soon, but I have been working on keeping everything on the upswing, and not on the down.

 

My CLs are 300, 750 and 700 with current util at 0%, <1%, 0%.

 

If I maxed out the $300 card, that would put my card util to 100%, 1%, 0% but my overall util would only be around 17% which isn't 10% but still pretty low.  Will I see a nose dive for "maxing out my card" or is it going to consider the fact that out of the other $1450 I've only used a whopping $10?

 

I have a purchase I'm going to make and since I can get 1% cash back on it, I'd rather use that card, but not if I'm going to see a nose dive for maxing out 1 card.

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
Epcot
Posts: 2,789
Registered: ‎10-10-2012
Re: Util question/scenario
You will definitely see a drop. How major is hard to say. Maxing out a card is using more than 90% of the credit extended to you on that line. Maxing out a card can be a red flag to lenders.

However if you are going to pay it off rather quickly and do not plan on applying for credit you may be ok.
Personally I would break it up and try to keep each card under 50% utilization.

Starting Score: EQ 717 EX 724 TU 736
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Valued Contributor
nicholasyud
Posts: 1,737
Registered: ‎08-13-2012
Re: Util question/scenario

I don't think it's good idea to max out any card.....it's normally drop about 10 points........if you really want to used that card to get 1%cash back then you should paid it before statement cut off time.........it's just my suggest.......


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
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Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012
Re: Util question/scenario

nicholasyud wrote:

I don't think it's good idea to max out any card.....it's normally drop about 10 points........if you really want to used that card to get 1%cash back then you should paid it before statement cut off time.........it's just my suggest.......


That would be the plan, however CAP 1 has been draaaaaaaaaaaaaaaaaging their feet when it comes to posting things to my account lately.

 

My statement closes next week, but with Gobble-fest (thanksgiving) who knows what that will do. This was more of a "what if scenario" for me, what if they don't post it they day they cut the statement and I have no time to pay it.

 

I'll probably just put it on the other card since that wouldn't even push it to 50% and that statement closes after thanksgiving so I know it will post and give me time to pay it down prior to the statment closing.

 

Thanks, for the info.

 

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
Re: Util question/scenario

Do you mean posting purchases, or posting payments has been slow?  My payments have FINALLY been posting quickly to my Cap1 account, but purchases take like 3-4 business days until they post and allow me to pay.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
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Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012
Re: Util question/scenario

Jutz wrote:

Do you mean posting purchases, or posting payments has been slow?  My payments have FINALLY been posting quickly to my Cap1 account, but purchases take like 3-4 business days until they post and allow me to pay.


Purchases. Payments have for the most part posted next day (except for sunday payments) when I pay online. However I've had payments at some pretty big stores (target/walmart/etc) that have taken a full week to post. But then others that will post after a couple days.

 

I'm afraid if I use the card, and it doesn't post next day, but rather it waits a week, between that and then thanksgiving it would mean that I wouldn't be given the opportunity to pay before the statment closes, however it will have posted to this months statement.

 

I'm not going to risk it - sure I'll loose the $3 but oh well I'm not going to play utilization roulette for $3.

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
my-own-fico
Posts: 1,303
Registered: ‎01-05-2010
Re: Util question/scenario

Time is mo.. Sorry, your $3 are up. :smileyvery-happy:

Are you living within your means?