topic Re: Card max utilization vs overall utilization in General Credit Topics

Card max utilization vs overall utilization

Anonymous — Sun, 03 Apr 2022 18:56:56 GMT

Hi everyone. Apologies in advance for the lazy post. I did not search.

Multiple overall credit utilization is maybe 10% but I want to do a balance transfer of 10k for 0% for 14 months.

This will max out my Discover.

So question is, does a maxed credit card have much impact vs over utilization. Still 10%.

Any insight is appreciated. Keep on keeping on!

Re: Card max utilization vs overall utilization

DJRobbieD — Sun, 03 Apr 2022 19:05:04 GMT

Short answer is yes. Both overall utilization and individual account utilization factor in to credit scores.

Re: Card max utilization vs overall utilization

Anonymous — Sun, 03 Apr 2022 19:40:15 GMT

Thanks Robbie.

So the "cutoff/sweetspot" is 25-30% applies to Both overall and individual cards/unsecured? Good info there 👍

I've been on a credit improvement adventure since 2017. From 620 to 786.

Re: Card max utilization vs overall utilization

tcbofade — Sun, 03 Apr 2022 19:49:20 GMT

If you can keep individual utilization under 48.9% and overall utilization under 8.9%, you'll be fine.

Fico scores in signature.

Re: Card max utilization vs overall utilization

Anonymous — Sun, 03 Apr 2022 19:54:45 GMT

Rock solid information. Thank you sir!

Incredible how much utilization has factored in. That has been my #1 catalyst by far.

Re: Card max utilization vs overall utilization

SouthJamaica — Sun, 03 Apr 2022 23:52:42 GMT

@Anonymous wrote:
Hi everyone. Apologies in advance for the lazy post. I did not search.

Multiple overall credit utilization is maybe 10% but I want to do a balance transfer of 10k for 0% for 14 months.

This will max out my Discover.
So question is, does a maxed credit card have much impact vs over utilization. Still 10%.

Any insight is appreciated. Keep on keeping on!

Yes it will have major negative impact

Best for all individual accounts to be under 30%