I should add my credit score (TU) from  554 to 724 has someThing to do with: 

A: added as AU (30 points) 

B:credit builder account (CD) 

C: did not have credit before  

D: paying accounts off before the cycle date?.in FULL 

 

A reminder to everyone to not change the original title of the thread out of respect to the OP. They are the only ones who have the right to do any editing of the title.

 

MarineVietVet, myFICO moderator

howdy, saw earlier post and didn't have time to respond -- work duties.  

 

you have the right idea.  just keep doing it and paying before statement date to bring UTIL%.  

 

 

Was added to a well Fargo card as an AU ..it is at 41% utilization according to CK.
Is this hurting me more than helping me in your opinion?
AND what is the formula to figure utilization? Saw you were able to figure out before..
Thanks for your help in advance.

Capital one is so weird. I have a pretty good interest rate with them (sub 10%), no lates and have had the card open since 2004. I have requested numerous CLI and am always denied. I'm stuck with this dinky $200 limit card compared to multiple cards with thousands available including $7500+. I just asked again this week for a CLI and was denied. What the crap? I need to take the time to call and talk to a supervisor/UW.

I guess cap1 us not giving CLI again .. They stink

 

authorized user use to not effect the regular user -- however to my knowledge things have changed.  just to be safe, assume it effects it and bring the UTIL % down to 9% or lower.  

 

formula = 

 

total card balance

-------------------------

total card line of credit 

 

 

example:  

 

250 card balance

------------------------ ==== 25% UTIL

1000 line of credit 

 

i just enter the card balance then press the "divide" symbol on the calculator and then enter the total line of credit = UTIL %

 

 

for myself, work job 1 to pay the bills and work job 2 to pay off debt.  

 

 

 

 

 

 

 

 

 

 

 

I just know that Cap1 and other banks have tightened their belts.  When I had 750 credit score, they tightened their belt and wouldn't even let me re-finance my house even though at the time i had perfect credit, stable employment, and my ratios were in line.  sadly we have a choice.  play their game OR not play their game and pay cash for everything.  Be like Dave Ramsey and have a 0 credit score with millions in the bank.  of course, people forget, he made his millions BEFORE the market crash NOT after the market crash.  

 

to change the tables, deposit $5,000 in a CD showing them you can save and then pay it off 3 times a month showing them you can handle the line of credit OR just use them for one tank of gas a month and use your other cards ... the $7500 limit card.  

 

for myself, i just have one major credit card.  keep it simple.  

 

is this card secured or unsecured?  if secured, just deposit $100/month into the account and show them you CAN save.  spend $25/month on a tank of gas and eventually they will raise your limit.  

 

great.  keep savings $100/month towards the CD line and $100/month towards rainy day fund.