topic Re: Util % in General Credit Topics

Util %

Murph5065 — Fri, 10 Jun 2022 03:55:44 GMT

According to Fico i have 57% across all 3 CRA's i have 3 brand new cards i have not activated as of yet, the total cl of all three is $1800 but i also have 6 accounts reporting balances and 6 accounts including new cards not activated yet that reports a $0 balance how much would i benefit from activating new card for over all util% ?

the accounts that are reporting is at $8486 out of a total of about 20k cl for all cards.

Re: Util %

tcbofade — Fri, 10 Jun 2022 08:47:14 GMT

$8486 divided by $20000 equals roughly 42 percent.

With everything reporting, your util would be 42.

Good luck!

Re: Util %

Murph5065 — Fri, 10 Jun 2022 12:14:14 GMT

@tcbofade wrote:
$8486 divided by $20000 equals roughly 42 percent.

With everything reporting, your util would be 42.

Good luck!

Thank you, would activating my 3 new cards have a small effect on it even more?

Re: Util %

bigseegar — Fri, 10 Jun 2022 12:34:50 GMT

@Murph5065 wrote:
@tcbofade wrote:
$8486 divided by $20000 equals roughly 42 percent.

With everything reporting, your util would be 42.

Good luck!
Thank you, would activating my 3 new cards have a small effect on it even more?

FYI, Non Activation doesn't always mean the cards are/won't report anyway. I've had cards hit my CRA Reports before I even recieved them much less activated them, and you mentioned above that of the 6 cards reporting you haven't activated 3. If that is the case they should already be reporting $0 balance and thus also already reporting the CL as well. If not then matbe activating will force the CL to show if it isn't.

Re: Util %

K-in-Boston — Fri, 10 Jun 2022 12:34:55 GMT

Card activation only affects whether a card can be used. Once it has been issued, barring any glitches, cards will report to consumer credit bureaus whether they have been activated or not.

Re: Util %

GatorGuy — Fri, 10 Jun 2022 14:40:43 GMT

Aggregate utilization is only part of the equation. Bringing it down will help some. However individual card utilization is very important. Especially if a card is near maxed.

Adding these cards, likely added a number of HPs which will ding your score. More importantly is the hit to AAoA when they all report unless you have a thick file.

Re: Util %

SouthJamaica — Fri, 10 Jun 2022 16:00:15 GMT

@Murph5065 wrote:
According to Fico i have 57% across all 3 CRA's i have 3 brand new cards i have not activated as of yet, the total cl of all three is $1800 but i also have 6 accounts reporting balances and 6 accounts including new cards not activated yet that reports a $0 balance how much would i benefit from activating new card for over all util% ?
the accounts that are reporting is at $8486 out of a total of about 20k cl for all cards.

The cards report whether you activate them or not. So you have nothing to gain by failing to activate them. Your utilization will be the same either way.