topic Re: Utilization question loc vs cc in Understanding FICO® Scoring

Utilization question loc vs cc

nate79416 — Mon, 29 Jun 2015 15:22:21 GMT

I only have 2 revolving accounts, my cc and loc

Would I calculate my overall util as

cc owe 323 limit is 3500

loc owe 1985 limit is 2500

is this the correct way to caluclate this

6000/ 2308 so that leaves me utli at 38% OR

should it be calculated separately

323/3500 9%

1985/2500 79% ouch

Thanks

Re: Utilization question loc vs cc

Anonymous — Mon, 29 Jun 2015 16:55:31 GMT

@nate79416 wrote:
I only have 2 revolving accounts, my cc and loc

Would I calculate my overall util as

cc owe 323 limit is 3500
loc owe 1985 limit is 2500

is this the correct way to caluclate this
6000/ 2308 so that leaves me utli at 38% OR
should it be calculated separately

323/3500 9%
1985/2500 79% ouch

Thanks

Your overall utilization is the 38% . The other two are the utilization percentages for those particular accounts. Both overall and individual utilization can affect your credit score.

Re: Utilization question loc vs cc

nate79416 — Mon, 29 Jun 2015 19:10:52 GMT

ok so the 79% is hurting my scores