topic Re: dumb question about utilization in Understanding FICO® Scoring

dumb question about utilization

Anonymous — Wed, 17 Sep 2008 07:20:29 GMT

This may be a dumb question, but.... At what point does your utilization start lowering your score. I had 2% and am about to go to about 17%. I have never been over 4% so I honestly don't know how my score will be affected. Thank you for your help!

Re: dumb question about utilization

llecs — Wed, 17 Sep 2008 13:31:02 GMT

ihatefico wrote:
This may be a dumb question, but.... At what point does your utilization start lowering your score. I had 2% and am about to go to about 17%. I have never been over 4% so I honestly don't know how my score will be affected. Thank you for your help!

Yo may end up taking a small hit, but is certainly reversable when paid off. The consensus seems to be at 10% intervals where you'd see a hit. If you have 3 or more CCs, I'd guess a 10-15 point hit.

Re: dumb question about utilization

Anonymous — Fri, 19 Sep 2008 04:56:56 GMT

The important thing to remember is that any hit you take will be temporary. And 17% really isn't that high. Though they'd probably deny it, the credit card companies like it when consumers take an occasional excursion over 10% (even if FICO scoring dings you for it). I wouldn't recommend exceeding 50%, however, and do be sure to pay it down promptly.

Re: dumb question about utilization

Anonymous — Fri, 19 Sep 2008 17:24:12 GMT

Thank you so much.