topic Re: Utilization Is Jumping Up This Month! in Credit Cards

Utilization Is Jumping Up This Month!

masscredit — Sun, 16 Dec 2012 19:49:10 GMT

Between Christmas shopping and the special offer that Target had ($10. gift card when you spend $50.), my cards are getting some heavy use this month! I'll keep track of it but I'm not going to worry about it. I'll move funds around and have a plan to pay them down when the new statements arrive in January.

Re: Utilization Is Jumping Up This Month!

09Lexie — Sun, 16 Dec 2012 20:00:34 GMT

My util will be almost 70% on one card but I have managed to PIF2 of my store cards and the util on the other 2 will be 1% after all the CLI's and balances update this month. In January, I will pay down the high util card (too late for Dec it was the one card with an early cut-off) to its normal 2%.

I have a plan - kinda upset about that one card but it couldn't be helped.

Re: Utilization Is Jumping Up This Month!

creditnocash — Sun, 16 Dec 2012 20:01:38 GMT

what's your current util?

a few extra bucks is nothing to worry about.

as long as you have the funds too pay it off .

unless your 65%+ total i wouldnt think twice about it

util only really matters when your applying for new credit and you want too squeeze those extra points out.

Re: Utilization Is Jumping Up This Month!

Anonymous — Sun, 16 Dec 2012 20:05:00 GMT

Same here I've already seen my first 5 point drop on EQ for the first balance reporting. Keeping it in perspective - a year ago at this time my utilitzation was at 34% with 3 of my 4 major CCs almost maxed out. I was in the middle of a 3 year debt payoff. I have since paid off everything except 1 card which I was able to BT to a 0% card at my CU.

As long as I don't pay any interest and don't max out my cards, I'm considering it a good holiday.

Re: Utilization Is Jumping Up This Month!

TNTransplant — Sun, 16 Dec 2012 20:19:52 GMT

Yep, mine will be jumping, too. I had to make a large purchase on my CSP to meet the spend requirement (yes, it was planned), but the statement will cut and report before I get it paid. Oh well, it should return to normal when everything updates/reports in January. I'm not stressing about it, as I'm in a much better place financially than I was at this time last year.

Re: Utilization Is Jumping Up This Month!

masscredit — Sun, 16 Dec 2012 21:28:18 GMT

I haven't run the numbers but I'd say my utilization probably jumped up by about 25%. I only had credit lines totaling $1800. the end of last year and now I'm up to $9350. the end of this year. A nice jump in a year. I'll pay those cards down in the next few months and be back to my normal 10-15%.