topic Re: Does my bank issued personal line of credit count towards my total credit limit? in Understanding FICO® Scoring

Does my bank issued personal line of credit count towards my total credit limit?

Anonymous — Thu, 10 May 2018 18:50:33 GMT

I'm beginning the process of keeping my utilization low for a future loan and was wondering if my bank issued personal line of credit counts towards my total credit limit when CRA calculate my utilization.

All of my cards combined, I have a total LoC of $42k.

My HSBC bank personal line of credit (which I don't plan on touching) is $5k bringing my total LoC to $47k.

When calculating my credit card usage, do the CRA report my card usage against the 42k or the 47k?

Thank you!

Re: Does my bank issued personal line of credit count towards my total credit limit?

SouthJamaica — Thu, 10 May 2018 18:51:21 GMT

@Anonymous wrote:
I'm beginning the process of keeping my utilization low for a future loan and was wondering if my bank issued personal line of credit counts towards my total credit limit when CRA calculate my utilization.

All of my cards combined, I have a total LoC of $42k.
My HSBC bank personal line of credit (which I don't plan on touching) is $5k bringing my total LoC to $47k.

When calculating my credit card usage, do the CRA report my card usage against the 42k or the 47k?

Thank you!

Yes it's scored as a revolving account.

Re: Does my bank issued personal line of credit count towards my total credit limit?

Anonymous — Thu, 09 Aug 2018 20:20:59 GMT

I just got approved for the hsbc credit card however im curious about line of credit do i have to hve a checking acccount or savings account or both and how much does it cost