topic Re: 1% utilization on $100k+ in limits: Nice job, all. in General Credit Topics

1% utilization on $100k+ in limits: Nice job, all.

Anonymous — Sat, 17 Aug 2019 09:55:50 GMT

I just wanted to take a brief moment to say "nice job" to anyone with high overall credit limits that is able to show the restraint/discipline to keep their utilization at a constant 1% (or similar) low/comfortable level.

Whether you're someone coming back from a rebuild that has encountered trouble in the past with revolving debt, or someone that's never been in that place, I think there's something to be said about the ability to avoid getting into trouble when you have large [available] limits at your fingertips. In a Consumer Society where one can have just about anything they want (within their credit limits) with a couple of mouse clicks, I admire those that can maintain composure and avoid the temptation to spend money that isn't theirs.

Great job to anyone that has (relatively) high limits and consistently keeps their utilization in an ideal place.

Re: 1% utilization on $100k+ in limits: Nice job, all.

Anonymous — Sat, 17 Aug 2019 15:23:20 GMT

Hi BBB. Couldn’t agree more. I went from zero credit in 2015 and crappy 500’s scores to 130k plus in CL and sit today at about 3% today on revolving lines. I owe a lot of that to what I learned here and now have scores in in 710-730 range and despite being LOL on inq and about 15/24 seems I can pretty much get an approval now on most everything when 3 years ago that possibility was laughable. Keeping your wits and keeping in control are learned skills and this forum helps support that and at the same time helps everyone who wants to enjoy the challenge of keeping good scores and accumulating reasonable credit. I add my thanks to all as well.

Re: 1% utilization on $100k+ in limits: Nice job, all.

Anonymous — Sat, 17 Aug 2019 18:21:26 GMT

10% over $200k in credit

Re: 1% utilization on $100k+ in limits: Nice job, all.

chhull00 — Sat, 17 Aug 2019 18:40:23 GMT

1% utilzation on 137k in credit limits (585 total debt)

Re: 1% utilization on $100k+ in limits: Nice job, all.

Medic981 — Sun, 18 Aug 2019 03:53:10 GMT

I am not yet to $100,000 in CL. Currently, I am at $72K and my goal is to reach a $100K revolving CL. I am currently at 1% UTI and I know that whatever total CL I achieve, I will be able to manage it with the discipline I have developed and the knowledge I have obtained through the myFICO forum members.

Thank you, myFICO family, for the gift of credit knowledge and the support and motivation to stay financially healthy!

Re: 1% utilization on $100k+ in limits: Nice job, all.

DCnDC — Sun, 18 Aug 2019 13:14:12 GMT

2% on $222,800 total CL. Woohoo! I tend to keep mine around there, however ultimately the goal is under 9% total at all times.

Re: 1% utilization on $100k+ in limits: Nice job, all.

AverageJoesCredit — Sun, 18 Aug 2019 14:23:45 GMT

@Anonymous wrote:
10% over $200k in credit

For shame MJ What the heck happened? 1% or less buddy, 1% or less

Re: 1% utilization on $100k+ in limits: Nice job, all.

AverageJoesCredit — Sun, 18 Aug 2019 14:24:20 GMT

@chhull00 wrote:
1% utilzation on 137k in credit limits (585 total debt)

Ill trade ya

Re: 1% utilization on $100k+ in limits: Nice job, all.

AverageJoesCredit — Sun, 18 Aug 2019 14:26:04 GMT

@DCnDC wrote:
2% on $222,800 total CL. Woohoo! I tend to keep mine around there, however ultimately the goal is under 9% total at all times.

So sorry, almost like having 5 of the 6 numbers needed for the Powerball. Keep ya head up, only 1% to go😆

Re: 1% utilization on $100k+ in limits: Nice job, all.

credit_is_crack — Sun, 18 Aug 2019 18:24:41 GMT

+1

I learned the hard way the first time. 2nd time around I got it on lock down.

1% of 500k, and PIF every month.

Re: 1% utilization on $100k+ in limits: Nice job, all.

Anonymous — Sun, 18 Aug 2019 19:13:47 GMT

Over $200k in credit all new since I started here in 2017 with 540-560 FICO08s.

Utilization is a steady 1%.

2020 I want to cut down to 5-6 cards but only if their CLs are over $25,000 each.

Re: 1% utilization on $100k+ in limits: Nice job, all.

Anonymous — Mon, 19 Aug 2019 04:43:15 GMT

@Anonymous wrote:

2020 I want to cut down to 5-6 cards but only if their CLs are over $25,000 each.

I'm a big fan of quality over quantity, so I think that's a good goal. ACL isn't something that's talked about too much on this forum, but I always find myself setting ACL goals moreso than individal card goals for whatever reason.

Re: 1% utilization on $100k+ in limits: Nice job, all.

Anonymous — Mon, 19 Aug 2019 06:20:12 GMT

I stay under 1%, majority of time, with high limits. I also concern myself with ACL, BBS. I've been thinking of jettisoning some low limit cards for that reason, considering their growth potential is small. Couldn't agree more.

Re: 1% utilization on $100k+ in limits: Nice job, all.

RSX — Mon, 19 Aug 2019 16:16:11 GMT

Between 3-5% on $157k, but that is primarily BT activity

I had 16 cards last month

added 1

dropped 3

will likely drop 2 more before the end of 2019

Re: 1% utilization on $100k+ in limits: Nice job, all.

DCnDC — Mon, 19 Aug 2019 18:15:12 GMT

@AverageJoesCredit wrote:
@DCnDC wrote:
2% on $222,800 total CL. Woohoo! I tend to keep mine around there, however ultimately the goal is under 9% total at all times.
So sorry, almost like having 5 of the 6 numbers needed for the Powerball. Keep ya head up, only 1% to go😆

Buahaha!! 🤣 **bleep**...

Re: 1% utilization on $100k+ in limits: Nice job, all.

DCnDC — Mon, 19 Aug 2019 18:17:43 GMT

@DCnDC wrote:
@AverageJoesCredit wrote:
@DCnDC wrote:
2% on $222,800 total CL. Woohoo! I tend to keep mine around there, however ultimately the goal is under 9% total at all times.
So sorry, almost like having 5 of the 6 numbers needed for the Powerball. Keep ya head up, only 1% to go😆
Buahaha!! 🤣 **bleep**...

Oops, guess I have to use “darn” instead!