topic Re: what is CC utilization? in Credit Cards

what is CC utilization?

Anonymous — Wed, 14 Nov 2007 17:17:20 GMT

I'm need and confused. What is credit card utilization?

If I use my credit cards throughout the month but pay it down to 0 before the due date, then is my credit card utilization 0? Or do they use what I put on it each month? I like to use my credit card for rewards and pay my house bills with each month, but pay the balance to 0 with each check. It is showing a 0 balanance on my credit report.

Thanks in advance.

Re: what is CC utilization?

Anonymous — Wed, 14 Nov 2007 17:25:59 GMT

cc utilization is the ratio of your credit balance to your credit limit: balance/cl = utilization.

It is a major component in the "Amounts Owed" (on the pie chart in the Credit Education tab in the black menu) which accounts for a full 30% of your FICO score.

If you type in the search box "utilization" you will see in-depth discussions on the subject. I've learned that the search box is a great way to educate yourself.

Message Edited by Sylviatob on 11-14-2007 09:25 AM

Re: what is CC utilization?

Anonymous — Wed, 14 Nov 2007 18:55:29 GMT

double poster!

I thought I was the only one

haha

Re: what is CC utilization?

Anonymous — Wed, 14 Nov 2007 19:21:49 GMT

Doh! I was using IE at the time I posted it. I rarely use it when I'm here.