Decreased my Utilization from 80% to 60% - Should I wait to Apply for Chase Slate, or Apply Now?

[Remedios]

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@Girlzilla88 wrote:

No I agree with them under 30% with individual under 8.9 but Ideally if they could get 8.9% across the board that would be LOVELY!

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@Girlzilla88  if individual cards are under 9%, how can aggregate exceed that? 

Unless we're doing quantum equations here, it's not happening. 

Math, yo. Math. 

[Girlzilla88]

Isn't aggregate the total .....so if individual was 8.9 or less depending on how many cards the total could be 30% or less am I missing something?!   LOL

[Anonymous]

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@Girlzilla88 wrote:

Isn't aggregate the total .....so if individual was 8.9 or less depending on how many cards the total could be 30% or less am I missing something?!   LOL

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Yes, you're missing something.  Utilization is caculated as a percentage of total available credit; its not an additive operation. So if your individual card utilizations are below 8.9% it is mathematically impossible for aggregate utilization to be 28.9%.

I'd also want to point out that there's no 8.9% utilization breakpoint for individual card utilization.

[Remedios]

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@Girlzilla88 wrote:

Isn't aggregate the total .....so if individual was 8.9 or less depending on how many cards the total could be 30% or less am I missing something?!   LOL

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You're missing something. You dont add up individual utilization percentages to determine aggregate utilization. 

[Girlzilla88]

LOLOLOL I'm so confused now ROFL sooooo I know it won't say 8.9 obviously lol but if it was one card 8 one card 2 one card 5 one card 8 that would be under 30%?!     Or are you referring to because they include car and home and things like that so the Utilization would be different (obviously higher?!)

[Remedios]

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@Girlzilla88 wrote:

LOLOLOL I'm so confused now ROFL sooooo I know it won't say 8.9 obviously lol but if it was one card 8 one card 2 one card 5 one card 8 that would be under 30%?!     Or are you referring to because they include car and home and things like that so the Utilization would be different (obviously higher?!)

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"The only winning move is not to play." A strange game. The only winning move is not to play. How about a nice game of chess?" ~ Star Wars Strike Back 

[Anonymous]

Out of all the Banks that would approve someone at 70% utilization, I very much doubt Chase is one. Best to get it down further, though even 50% might e too uch for Chase to consider. If you plan to BT most of you're CC dept, Discover might. 

[K-in-Boston]

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@Girlzilla88 wrote:

LOLOLOL I'm so confused now ROFL sooooo I know it won't say 8.9 obviously lol but if it was one card 8 one card 2 one card 5 one card 8 that would be under 30%?!     Or are you referring to because they include car and home and things like that so the Utilization would be different (obviously higher?!)

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The individual percentages don't matter when calculating overall utilization.  That is calculated by adding up all of your total revolving balances and dividing it by your total credit lines.  So the 8%, 2%, 5%, and 8% you mention mean nothing for this calculation since we do not know what those numbers are and how they relate to each other.  But if we add some credit lines and balances here, this is how it would look:

	Balance	Limit	Utilization
Card A	800	10,000	8.00%
Card B	20	1000	2.00%
Card C	25	500	5.00%
Card D	48	600	8.00%
Overall	893	12,100	7.38%

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As far as the Chase app goes, with 70% overall utilization it is very unlikely that an approval would happen in most circumstances.

[Girlzilla88]

Oooooh Lovely Ok yes thank you that makes a lot more sense seeing it that way!       <3

[Remedios]

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@Girlzilla88 wrote:

Oooooh Lovely Ok yes thank you that makes a lot more sense seeing it that way!       <3

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Quick quiz @Girlzilla88 

What's your aggregate utilization right now?

Answer quickly or the puppy pays!