topic Re: High utilization .. in Credit Cards

High utilization ..

Anonymous — Thu, 09 Feb 2012 20:11:03 GMT

I was wondering if having high utilization hurts ur score in the long run...I'm close to 90% percent for like about 4 months But never missed a payment gave more that the required . Just that I'm planning to pay off everything with my tax refund . Im not applying for anything or anything of that sort , but just wondering if it hurts on the long run having that high util show?

Re: High utilization ..

Anonymous — Thu, 09 Feb 2012 20:13:25 GMT

It hurts only until you pay it down and the card or cards in question report the new limit - then the pain is gone!

Re: High utilization ..

seattletravels — Thu, 09 Feb 2012 20:14:32 GMT

90% utlilization is killing your score. You should see a pretty significant increase as you pay it down.

Re: High utilization ..

Anonymous — Thu, 09 Feb 2012 20:15:16 GMT

Your credit score is a snapshot in time. It has no memory.

Re: High utilization ..

Anonymous — Thu, 09 Feb 2012 20:24:53 GMT

SWEET! Lol I should be good then April comes it'll mark one year of credit history and the first thing I'm going to apply for is the zync and discover more.

Re: High utilization ..

Anonymous — Thu, 09 Feb 2012 21:04:20 GMT

@Anonymous wrote:
Your credit score is a snapshot in time. It has no memory.

The credit report has no history of utilization, so only the current utilization matters. That is why I only worry about utilization when I want to apply for more credit.

Re: High utilization ..

seattletravels — Thu, 09 Feb 2012 22:18:24 GMT

@seattletravels wrote:
90% utlilization is killing your score. You should see a pretty significant increase as you pay it down.

I really should read a whole post before responding. I didn't notice the 'in the long run' part. hehe

Re: High utilization ..

Anonymous — Thu, 09 Feb 2012 22:32:02 GMT

Wow. That's good to know. I was starting to think I knew everything about credit scoring until I read that.

Re: High utilization ..

Anonymous — Thu, 09 Feb 2012 22:33:19 GMT

@seattletravels wrote:
@seattletravels wrote:
90% utlilization is killing your score. You should see a pretty significant increase as you pay it down.

I really should read a whole post before responding. I didn't notice the 'in the long run' part. hehe

Technically you were right, you just didn't catch that part