Valued Member
shorttough
Posts: 44
Registered: ‎11-07-2012
what range of % Credit limit should i stay under
[ Edited ]

Hi all,

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.

 

Valued Contributor
AndySoCal
Posts: 1,893
Registered: ‎04-07-2009
Re: what range of % Credit limit should i stay under

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.

Equifax My FICO score 815 5/28/2012. Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
New Contributor
cleansheet
Posts: 58
Registered: ‎12-20-2012
Re: what range of % Credit limit should i stay under

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.



Starting Score: 2012-10-06 EX: SSN has not been allocated! (funny I pay my taxes)
Current Score: 2013-10 Average 718
Goal Score: 760+


Valued Member
shorttough
Posts: 44
Registered: ‎11-07-2012
Re: what range of % Credit limit should i stay under

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.

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
Re: what range of % Credit limit should i stay under

That's hard to predict given all the factors.  The one good thing is FICO has no memory.  Even if you do lose points, when you start paying down the CC your score will climb back up.