Utilization is calculated amongst all your credit cards so if you shared the $2000 on all the cards vs. Paying just one card your utilization will be the same.
E.g.
- Sam - $8300 with $8500 limit
- AARP Chase - $7000 with $7500 limit
- Discover $6500 with $7000 limit
How utilization is calculated
$8300 + $7000 + $6500 = $ 21800 balance
$8500 + $7500 $7000 = $ 23000 Limit
Calculation
Total Balance divided by Total Limit = Utilization
$21800 / $23000 = .974 ( x 100) = 94.7% Utilization
My suggestion would be is to pay this extra $2000 on the credit that has the highest Apr
Current Score: 771 - 11/21/2012/ Amex Pull
Late Payment: 0 / Collections: 0
AAOA: 6.3 Years
"My Scores Yesterday or Last week or even Last month has no value when applying for credit today. The value is not in my score but the information in my credit file. Once the information is good the score will follow"
