topic Re: credit card utilization in Credit Cards

credit card utilization

Anonymous — Mon, 19 Nov 2007 00:00:45 GMT

most on here say to have your credit card utilization down between 1-9 percent when FICO is determing this in scores --is this your total revolving credit limits to balance ratio (hope that wasnt confusing) or each card individually for each card....

thanks just really trying to get more knowledgable as possible with this thing called credit I have come along way but you can never stop learning

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:02:25 GMT

I think it is total, but we will find out shortly when the experts chime in.

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:02:45 GMT

individuall for fico sweet spot, and less than half or so reporting w/any kind of balance.

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:08:28 GMT

1-9% total uti less than 50% on any given card.

Re: credit card utilization

fused — Mon, 19 Nov 2007 00:13:53 GMT

AWLEGZ wrote:

most on here say to have your credit card utilization down between 1-9 percent when FICO is determing this in scores --is this your total revolving credit limits to balance ratio (hope that wasnt confusing) or each card individually for each card....

thanks just really trying to get more knowledgable as possible with this thing called credit I have come along way but you can never stop learning

1-9% on indiv and total util

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:16:08 GMT

Yes- Total AND individual UTL is weighted "EVENLY"

dnm45227 knows the SWEET SPOT-

@dnm45227 wrote:
individuall for fico sweet spot, and less than half or so reporting w/any kind of balance.

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:18:22 GMT

fused wrote:

AWLEGZ wrote:

most on here say to have your credit card utilization down between 1-9 percent when FICO is determing this in scores --is this your total revolving credit limits to balance ratio (hope that wasnt confusing) or each card individually for each card....

thanks just really trying to get more knowledgable as possible with this thing called credit I have come along way but you can never stop learning

1-9% on indiv and total util

MOD FIGHT!!!! Lol.

Actually FICO only looks at individual cards when uti is over 50%. It first considers overall uti. When an individual card hits the 90 percent mark (maxed), you will start taking hits. I noticed this when I BT'd a 0 balance card up to 85 percent of its limit. Pulled the score and not a peep from FICO as my overall uti was still good. Now lenders start getting nervous a lot earlier than that.

Message Edited by Brammy on 11-18-2007 07:18 PM

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:19:49 GMT

@Anonymous wrote:
Yes- Total AND individual UTL is weighted "EVENLY"

dnm45227 knows the SWEET SPOT-

@dnm45227 wrote:
individuall for fico sweet spot, and less than half or so reporting w/any kind of balance.

knowing where it is and hiting it are two different things.

Re: credit card utilization

fused — Mon, 19 Nov 2007 00:20:19 GMT

yes, a mod fight I have lost points for a CC reporting between 10-50% util.

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:21:09 GMT

can ddd lock this thread!

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:26:53 GMT

I think it depends on your uti before hand. If you had low uti but added purchases increasing you over all uti, tat would explain it. I was totally expecting to get dinged for the BT but 1.99 versus a short-term fico decrease was worth it.

Because it was a low limit card, the card I BTd it from was only at 20%. Really thought I would get kicked for that one

Message Edited by Brammy on 11-18-2007 07:26 PM

Re: credit card utilization

fused — Mon, 19 Nov 2007 00:28:32 GMT

This is very strange! My overall util was around 6-7% but one card reported about 19% and I got hit. Now I'm one confused mod! HELP!!!!

Re: credit card utilization

fused — Mon, 19 Nov 2007 00:29:35 GMT

dnm45227 wrote:

can ddd lock this thread!

better we don't go there

Message Edited by fused on 11-18-2007 02:29 PM

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:36:11 GMT

fused wrote:

This is very strange! My overall util was around 6-7% but one card reported about 19% and I got hit. Now I'm one confused mod! HELP!!!!

LOL!!! What did the 19% on the one card take your total uti to? If it surpasses 7 you get a hit too. At least accorcing to the FICO thing I got.

Think you may have just fallen out of the FICO 'High Achievers' bucket over 7%

Message Edited by Brammy on 11-18-2007 07:36 PM

Re: credit card utilization

fused — Mon, 19 Nov 2007 00:37:08 GMT

Brammy wrote:

fused wrote:

This is very strange! My overall util was around 6-7% but one card reported about 19% and I got hit. Now I'm one confused mod! HELP!!!!

LOL!!! What did the 19% on the one card take your total uti to? If it surpasses 7 you get a hit too. At least accorcing to the FICO thing I got.

My overall util was around 6-7% but one card reported about 19% and I got hit. I had (have) large lines with tiny, tiny balances while another one was reporting 19% after I bought a laptop several months ago. Not sure if total util was 6 or 7%. Mine sharing your info? Please!

Re: credit card utilization

haulingthescoreup — Mon, 19 Nov 2007 00:37:31 GMT

Time for my OT --congrats to dnm45227 whose ducky has now quacked over 1000 times!

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:38:57 GMT

haulingthescoreup wrote:
Time for my OT --congrats to dnm45227 whose ducky has now quacked over 1000 times!

ducky quaked 1000 times (too funny), didn't even notice.

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:40:17 GMT

YAY!!!! Rubber Ducky!!!!! But wouldn't that be Squeaked 1000 times?

Re: credit card utilization

Anonymous — Mon, 19 Nov 2007 00:49:45 GMT

fused wrote:

Brammy wrote:

fused wrote:

This is very strange! My overall util was around 6-7% but one card reported about 19% and I got hit. Now I'm one confused mod! HELP!!!!

LOL!!! What did the 19% on the one card take your total uti to? If it surpasses 7 you get a hit too. At least accorcing to the FICO thing I got.

My overall util was around 6-7% but one card reported about 19% and I got hit. I had (have) large lines with tiny, tiny balances while another one was reporting 19% after I bought a laptop several months ago. Not sure if total util was 6 or 7%. Mine sharing your info? Please!

According to Suze, FICO high acheivers have an average of 7% uti. If that little increase put you over 7, that may explain it.

Remember FICO scoring is Fluid. Only a comparison of the comsumers in the database. What was 1-9% is most likely 1-7% based on high achievers for optimum score

Message Edited by Brammy on 11-18-2007 07:49 PM

Re: credit card utilization

fused — Mon, 19 Nov 2007 00:51:40 GMT

Brammy wrote:

According to Suze, FICO high acheivers have an average of 7% uti. If that little increase put you over 7, that may explain it.

Remember FICO scoring is Fluid. Only a comparison of the comsumers in the database. What was 1-9% is most likely 1-7% based on high achievers for optimum score

Message Edited by Brammy on 11-18-2007 07:49 PM

I didn't know Suzie new much about credit.