topic Re: Credit Card Utilization in Credit Cards

Credit Card Utilization

ray8806 — Mon, 17 Nov 2014 20:31:03 GMT

My balance for this month for my UTL was $4 out of $1,500. I know that's a low percentage but I still thought it would make it be ~1%.

I know CreditKarma isn't exactly accurate, but it shows my utlization at 0% and gave me a "C" grade, even though it even shows me using $4. Does FICO round its percentage down too? I'd hate for my FICO score to take such a hard hit from utlization when I do use my cards a LOT. I just pay off everything but a small amount to report.

Re: Credit Card Utilization

Dw4250 — Mon, 17 Nov 2014 21:25:09 GMT

Anything greater than $1 is reported as 1% by FICO whether it's $1/100 or $1/10,000.

Ignore CK data. It's only a credit monitoring service to check HP's and reported UTL.

Re: Credit Card Utilization

Anonymous — Mon, 17 Nov 2014 21:28:16 GMT

@Dw4250 wrote:
Anything greater than $1 is reported as 1% by FICO whether it's $1/100 or $1/10,000.

Ignore CK data. It's only a credit monitoring service to check HP's and reported UTL.

Actually, CK score might not be the same as FICO 08 here, but it's practically identical if not identical to FICO 04. Not too shabby.