topic Re: Credit utilization over 100 % ! Help in Credit Cards

Credit utilization over 100 % ! Help

Anonymous — Thu, 25 Jun 2009 03:06:58 GMT

I have a credit card with a $750 credit line and I am an AU on my wife's credit card (citi) which doesn't report her credit limit !

I end up with $2,000 of credit card debt for a $750 credit limit

Is it reflected on my score??

Thanks

Re: Credit utilization over 100 % ! Help

Anonymous — Thu, 25 Jun 2009 03:18:28 GMT

We need a little more info to help you. Are you saying that your wife's no limit card has a 2k balance or do you mean you have a 2k balance on your $750 card. I don't think you can go over %100 utill because your highest reported balance ( if greater than your credit limit) takes the place of your credit limit.

Message Edited by Justn on 06-24-2009 08:18 PM

Re: Credit utilization over 100 % ! Help

Anonymous — Thu, 25 Jun 2009 03:28:37 GMT

I have a $25 balance on my $750 CL card.

My wife has a $2,000+ balance on her $9000 CL card. Her CL is not reported on my credit report.

I just checked my credit report on credit karma and I had a grade of F for credit utilization because of this. Specifically, it says: "Open Credit Card Utilization100+%".

Thanks

Message Edited by xav on 06-24-2009 08:28 PM

Re: Credit utilization over 100 % ! Help

Anonymous — Thu, 25 Jun 2009 19:43:52 GMT

Does this mean that my credit score won't be affected by this?

Re: Credit utilization over 100 % ! Help

Verde — Fri, 26 Jun 2009 17:30:30 GMT

I would either dispute the info or have your wife to remove you as an AU

Re: Credit utilization over 100 % ! Help

Anonymous — Fri, 26 Jun 2009 19:52:24 GMT

I guess the easiest thing is for us to pay the balance in full and keep 0 balance..

Anybody's input will be much appreciated on this.

Thanks

Re: Credit utilization over 100 % ! Help

Anonymous — Fri, 26 Jun 2009 22:58:24 GMT

Did you ever look at your free credit report from TU? How is your wife's card reported?

Is your wife's card a Visa Signature?

I just ask because these are not correctly calculated by Credit Karma or the TU FICO you can buy on this site, but it will be correctly calculated in the EQ or EX scores and in the new TU FICO that most lenders use.

Message Edited by Ulan on 06-26-2009 03:58 PM

Re: Credit utilization over 100 % ! Help

LindaLu — Sat, 04 Jul 2009 21:53:55 GMT

Is that really true that if you are over your limit that it replaces your limit? that would almost be like upping your limit to what you are over by? I have a credit card that the limit was lowered to less than my balance and it certainly did affect my utilization. It basically ate the available overall credit available to me on my credit report as a whole thus making my utlization higher..Just curious.

Re: Credit utilization over 100 % ! Help

athensguy — Sat, 04 Jul 2009 22:26:42 GMT

@LindaLu wrote:
Is that really true that if you are over your limit that it replaces your limit? that would almost be like upping your limit to what you are over by? I have a credit card that the limit was lowered to less than my balance and it certainly did affect my utilization. It basically ate the available overall credit available to me on my credit report as a whole thus making my utlization higher..Just curious.

No. If a limit is reported, then that is used for the calculation.

If it is a properly reported Visa Signature, World Mastercard, or Charge card, then it does not have a utilization ratio that's counted for FICO.

The only time a high balance replaces the credit limit is when it's reported as a regular credit card and the limit line is left blank. It is incorrectly reported if that is the case, but Capital One used to do that, and it's possible that Citi NPSL cards report like that now. Chase, FIA, and Amex Charge cards report correctly and don't count for util.