CC overall Utilization

[LS2982]

Now that i'm set in my ways about not seeking any new credit, what is the acceptable max. util. to be at?? I'm already freaking out about 10%, and will be at 15% by the end of the month!!

So in all the members opinions, what is acceptable max util. if your not planning on any new credit and long term gardening?

25%?

30%?

[Mike360]

I am one who loves 0% financing and pays my statement balances monthly and let my 0% ride it's course. Think I'm about 20ish util with just my chase and best buy accounts.

[LS2982]

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@Mike360 wrote:
I am one who loves 0% financing and pays my statement balances monthly and let my 0% ride it's course. Think I'm about 20ish util with just my chase and best buy accounts.

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Only 2 accounts with balances?? I like that. My BB store card has the 0% deal and DM has 3.99% for 6 months,but my others are APR crazy!!

Here is my current situation with Balances:

DM $897/$1,000 (27th)

Cap1 $369/$750(15th)

JCP $191/$451 (3rd)

CareCredit $141/$500(10th)

Lowes $242/$500 (has not reported yet, closing date is 24th)

Amazon $158/$1,700 (27th)

BB $253/1,000 (18th)

All other accounts are at $0 on CR's

How should I tackle these?? I have about $900 to throw at this on the 27th

[RyVision]

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@LS2982 wrote:

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@Mike360 wrote:
I am one who loves 0% financing and pays my statement balances monthly and let my 0% ride it's course. Think I'm about 20ish util with just my chase and best buy accounts.

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Only 2 accounts with balances?? I like that. My BB store card has the 0% deal and DM has 3.99% for 6 months,but my others are APR crazy!!

Here is my current situation with Balances:

DM $897/$1,000 (27th)

Cap1 $369/$750(15th)

JCP $191/$451 (3rd)

CareCredit $141/$500(10th)

Lowes $242/$500 (has not reported yet, closing date is 24th)

Amazon $158/$1,700 (27th)

BB $253/1,000 (18th)

All other accounts are at $0 on CR's

How should I tackle these?? I have about $900 to throw at this on the 27th

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I know JCP is way up there, I think around 26.9%, something like that I'd knock out first.  Simply because, even though it's not a huge balance, the higher % across the board adds up (it's just not noticed on multiple small balances).  Plus you could have a few more cards reporting 0 that way it seems.

Just my first instinct answering the question really.  lol  Use the 0 and lower % accounts to your advantage when taking down your cost of credit. JM2C

[LS2982]

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@RyVision wrote:

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@LS2982 wrote:

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@Mike360 wrote:
I am one who loves 0% financing and pays my statement balances monthly and let my 0% ride it's course. Think I'm about 20ish util with just my chase and best buy accounts.

---

Only 2 accounts with balances?? I like that. My BB store card has the 0% deal and DM has 3.99% for 6 months,but my others are APR crazy!!

Here is my current situation with Balances:

DM $897/$1,000 (27th)

Cap1 $369/$750(15th)

JCP $191/$451 (3rd)

CareCredit $141/$500(10th)

Lowes $242/$500 (has not reported yet, closing date is 24th)

Amazon $158/$1,700 (27th)

BB $253/1,000 (18th)

All other accounts are at $0 on CR's

How should I tackle these?? I have about $900 to throw at this on the 27th

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I know JCP is way up there, I think around 26.9%, something like that I'd knock out first.  Simply because, even though it's not a huge balance, the higher % across the board adds up (it's just not noticed on multiple small balances).  Plus you could have a few more cards reporting 0 that way it seems.

Just my first instinct answering the question really.  lol  Use the 0 and lower % accounts to your advantage when taking down your cost of credit. JM2C

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I have it scheduled to pay off $600 of that DM balance on the 27th but i'd like to move more of that money around paying down other balances but concerned Discover might not like my 1st staement with them cutting with a big balance....

[Anonymous]

80%  is fine.

[Anonymous]

As long as you're not applying for new credit, higher util is fine. I remember reading that the average American uses about 50% of his/her available credit. If you come close to maxing out that might freak out some lenders but at 50% no one should bat an eye.

[jamesdwi]

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@LS2982 wrote:

Now that i'm set in my ways about not seeking any new credit, what is the acceptable max. util. to be at?? I'm already freaking out about 10%, and will be at 15% by the end of the month!!

So in all the members opinions, what is acceptable max util. if your not planning on any new credit and long term gardening?

25%?

30%?

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Chase declined my app when i was above 30% UTL, even declined when i did a recon,  a couple months later my UTL was 22% approved, had AMEX blue and 3 more INQ's by that time.  so I would say keep it under 30% to look okay for prime cards, lower is better of course. 

[LS2982]

@james Im not seeking any new credit for 1 year, Im trying to find out an acceptable range for my overall util. from now until 3/13

[jamesdwi]

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@LS2982 wrote:
@James Im not seeking any new credit for 1 year, Im trying to find out an acceptable range for my overall util. from now until 3/13

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I understand, but if it good enough to get new credit it should be good enough for regular everyday, especially if you are still trying to get CLI's in the future. And frankly if you are in primeville and need to exceed 30% of your credit lines on going it may be a sign of a problem or a hard time in the future should the unexpected happen. You no longer have the excuse of saying its only a $300 limit.