topic Re: First Month about to Cut, Is Util going to hurt me in Credit Cards

First Month about to Cut, Is Util going to hurt me

Anonymous — Thu, 15 Aug 2013 12:24:14 GMT

I know its probably ridiculous to ask, but don't want to screw up here. For various reasons, I've got a charge I want to make in the pre-statement danger zone (closes the 20th). Is a reasonably high utilization reporting (290 out of 500) for the first month of a card going to upset my reports and potential for an auto CLI? Usage history for the month has been pretty much charge, post, paid off to keep util down (~1k through if I get this charge on). Now its possible the charge will post, and Ill be able to pay before the statement closes, but if not is this really a bad thing?

How long is util retained on your report?

Re: First Month about to Cut, Is Util going to hurt me

Anonymous — Thu, 15 Aug 2013 12:30:35 GMT

@Anonymous wrote:
I know its probably ridiculous to ask, but don't want to screw up here. For various reasons, I've got a charge I want to make in the pre-statement danger zone (closes the 20th). Is a reasonably high utilization reporting (290 out of 500) for the first month of a card going to upset my reports and potential for an auto CLI? Usage history for the month has been pretty much charge, post, paid off to keep util down (~1k through if I get this charge on). Now its possible the charge will post, and Ill be able to pay before the statement closes, but if not is this really a bad thing?

How long is util retained on your report?

Utilization is just a snapshot, so for score purposes, previous high utilizations don't impact future scores. Hence micro-managing util only matters if you are about to app, or think a creditor might give you a score-based auto-CLI. This is unlikely in the first month, so I wouldn't worry at all.

Re: First Month about to Cut, Is Util going to hurt me

takeshi74 — Thu, 15 Aug 2013 13:53:20 GMT

@Anonymous wrote:

How long is util retained on your report?

It's not. As stated above, utlization is a snapshot. "Current" is implied in utilization.

Re: First Month about to Cut, Is Util going to hurt me

myjourney — Thu, 15 Aug 2013 14:05:55 GMT

For Fico scoring UTL has no memory ....

So last months UTL has no effect on this months scoring

Only this month UTL has an effect on this months scoring