topic Less than 50% UTL helpful? in Credit Cards

Less than 50% UTL helpful?

Shellie — Tue, 21 May 2013 14:15:06 GMT

I have a Capital One care with a $300 balance and I have it paid down to less than 50% ( will have this paid down some time in June) will this have a positive impact? I had a $239 balance last month but Cap1 hasn't reported the lower balance yet. Bill was due yesterday and I called last week and they said they reported on/around 23rd, I believe. I would have never carried more than a $10 balance had I known about carrying a low balance to help you.

Re: Less than 50% UTL helpful?

Anonymous — Tue, 21 May 2013 14:20:57 GMT

Ideally you want to carry under 10% balance. Though I never realyl have mine that low, but I make sure it is under 35% at all times for total credit.

Re: Less than 50% UTL helpful?

Shellie — Tue, 21 May 2013 14:32:13 GMT

I am working towards that. I have been making payments any time I have an extra $25 or what ever I can. I wasn't aware until recently that it was damaging to carry a balance. So I am actively working to correct that. I started with a 605 several months back and due to come credit pulls and carrying a balance my score dropped to 568. That is so disappointing However I am more educated now and have a better idea of what I need to do! I had paid off about 4 debts to the OC's and they reported to the CA's and the CA sent me a paper saying I had no debt in their office but it has not been reported on my credit. They were all paid in March, so they've had plenty of time to show $0 balance. I have also been making payments to a couple other OC's and those are all still reporting the high balances. Hoping for a big increase in June...

Re: Less than 50% UTL helpful?

Shellie — Tue, 21 May 2013 14:39:28 GMT

Oooh... Capital One did tell me that I was scheduled for a limit increase in June! From $300-$500. That is encouraging