topic Re: UTILIZATION in Credit Cards

UTILIZATION

happy101 — Thu, 19 Apr 2012 20:21:00 GMT

I have horrible utilization at over 30%. I recently requested CLI on several credit cards and was approved. Do you think its possible that my score will see a bump once my utilization drops? I have no marks on my credit other than utilization.....

Re: UTILIZATION

Anonymous — Thu, 19 Apr 2012 20:35:41 GMT

It depends on whether the requests for CLI's were soft pulls or hard pulls.

If they were soft pulls, then yes, you'd see a bump if it's "substantial".

If the increases only got you from 30% to 28%, then, it's possible that you might not see much progress.

So, really, it's a combination of a factor or two.

Re: UTILIZATION

happy101 — Thu, 19 Apr 2012 20:39:38 GMT

Heck, I thought when you request CLI for credit cards you already have they are soft pulls automatically.... I guess i'll wait and see Thanks for the prompt reply...

Re: UTILIZATION

Anonymous — Thu, 19 Apr 2012 20:50:17 GMT

@happy101 wrote:
I have horrible utilization at over 30%. I recently requested CLI on several credit cards and was approved. Do you think its possible that my score will see a bump once my utilization drops? I have no marks on my credit other than utilization.....

IMO, 30% is good utilizaton, but score will increase as utilization goes down. 90% would be horrible.