@NRB525 wrote:
@cem13 wrote:My story is even better. I have $5K Visa Siggy and $5K AMEX with PenFed. I use the Visa Siggy as my back up card to NFCU because it is my only Siggy. I run about $100 per month on the card and always PIF.
A guess here; with the $5k limit and ~$100 per month over many months, you haven't shown PenFed that you need more credit.
If it were me? I'd go ahead and transfer $3k to the $5k PenFed offer, take advantage of the low APR, and pay down the remainder on the other source card, where it sits, wherever that is.
The belief that 90% utilization will "tank your score" is something of an urban myth. How many points do you expect it will cost? I've maxed out many a BT offer, to 90%+, and my scores are always within a range. They were lower due to overall high utilization, but one card carrying a large amount will cost you only a few points. It won't be a 100 point event.
Then later, in the long run, because you will have shown PenFed the ability to utilize their $5k CL and pay it down, your chances of getting a CLI are much improved.
This is a surprise coming from you and I have to truly disagree 
There's no myth whatsoever here
Fico looks at CC debt in 2 ways
1) overall UTL of all cards
2) each individual cards UTL
Anything over 70-75% on a card is considered maxed out and reflected in scoring
Having overall UTL of 90% or having 1 card over 90% will certainly ding your scores and I might add it's a MAJOR ding
@myjourney wrote:
@NRB525 wrote:
@cem13 wrote:My story is even better. I have $5K Visa Siggy and $5K AMEX with PenFed. I use the Visa Siggy as my back up card to NFCU because it is my only Siggy. I run about $100 per month on the card and always PIF.
A guess here; with the $5k limit and ~$100 per month over many months, you haven't shown PenFed that you need more credit.
If it were me? I'd go ahead and transfer $3k to the $5k PenFed offer, take advantage of the low APR, and pay down the remainder on the other source card, where it sits, wherever that is.
The belief that 90% utilization will "tank your score" is something of an urban myth. How many points do you expect it will cost? I've maxed out many a BT offer, to 90%+, and my scores are always within a range. They were lower due to overall high utilization, but one card carrying a large amount will cost you only a few points. It won't be a 100 point event.
Then later, in the long run, because you will have shown PenFed the ability to utilize their $5k CL and pay it down, your chances of getting a CLI are much improved.This is a surprise coming from you and I have to truly disagree
There's no myth whatsoever here
Fico looks at CC debt in 2 ways
1) overall UTL of all cards
2) each individual cards UTL
Anything over 70-75% on a card is considered maxed out and reflected in scoring
Having overall UTL of 90% or having 1 card over 90% will certainly ding your scores and I might add it's a MAJOR ding
Number of points please? It's not 100. I did not say it would not cause a point decline. My beef is with the highly charged words used to describe the impact of a 90% card, with no reference to actual FICO score points.
If the OP is going to save money by taking advantage of a low APR offer from PenFed, when the alternative is to leave it in place for a 20% or more rate, then to heck with the FICO score, I'm taking the low cost alternative if that is available. The FICO score will recover as this card gets paid down, and the future relationship with PenFed, the future CLI, will be enhanced. Money in my pocket from taking the low cost alternative. FICO ain't paying me for my points.
@myjourney wrote:
@NRB525 wrote:
@cem13 wrote:My story is even better. I have $5K Visa Siggy and $5K AMEX with PenFed. I use the Visa Siggy as my back up card to NFCU because it is my only Siggy. I run about $100 per month on the card and always PIF.
A guess here; with the $5k limit and ~$100 per month over many months, you haven't shown PenFed that you need more credit.
If it were me? I'd go ahead and transfer $3k to the $5k PenFed offer, take advantage of the low APR, and pay down the remainder on the other source card, where it sits, wherever that is.
The belief that 90% utilization will "tank your score" is something of an urban myth. How many points do you expect it will cost? I've maxed out many a BT offer, to 90%+, and my scores are always within a range. They were lower due to overall high utilization, but one card carrying a large amount will cost you only a few points. It won't be a 100 point event.
Then later, in the long run, because you will have shown PenFed the ability to utilize their $5k CL and pay it down, your chances of getting a CLI are much improved.This is a surprise coming from you and I have to truly disagree
There's no myth whatsoever here
Fico looks at CC debt in 2 ways
1) overall UTL of all cards
2) each individual cards UTL
Anything over 70-75% on a card is considered maxed out and reflected in scoring
Having overall UTL of 90% or having 1 card over 90% will certainly ding your scores and I might add it's a MAJOR ding
I would say that really depends on each profile. In 2013 (still old model) but I did some hard core testing with my profile and 1 single maxed out card at 99% util with an overall util of 1% did not really impact my Fico score (it was EQ where I did the testing) . On the other hand the test of reporting 1$ on all 8 accounts gave me a drop of 46 points and the next cycle I did report the same 8$ but only on 1 account and got the points right back. To my surprise I hardly noticed the single maxed out card but I had a shock to see the impact for each account with a balance. I guess it is hard to predict without testing on own profile.
@NRB525 wrote:
@myjourney wrote:
@NRB525 wrote:
@cem13 wrote:My story is even better. I have $5K Visa Siggy and $5K AMEX with PenFed. I use the Visa Siggy as my back up card to NFCU because it is my only Siggy. I run about $100 per month on the card and always PIF.
A guess here; with the $5k limit and ~$100 per month over many months, you haven't shown PenFed that you need more credit.
If it were me? I'd go ahead and transfer $3k to the $5k PenFed offer, take advantage of the low APR, and pay down the remainder on the other source card, where it sits, wherever that is.
The belief that 90% utilization will "tank your score" is something of an urban myth. How many points do you expect it will cost? I've maxed out many a BT offer, to 90%+, and my scores are always within a range. They were lower due to overall high utilization, but one card carrying a large amount will cost you only a few points. It won't be a 100 point event.
Then later, in the long run, because you will have shown PenFed the ability to utilize their $5k CL and pay it down, your chances of getting a CLI are much improved.This is a surprise coming from you and I have to truly disagree
There's no myth whatsoever here
Fico looks at CC debt in 2 ways
1) overall UTL of all cards
2) each individual cards UTL
Anything over 70-75% on a card is considered maxed out and reflected in scoring
Having overall UTL of 90% or having 1 card over 90% will certainly ding your scores and I might add it's a MAJOR ding
Number of points please? It's not 100. I did not say it would not cause a point decline. My beef is with the highly charged words used to describe the impact of a 90% card, with no reference to actual FICO score points.
If the OP is going to save money by taking advantage of a low APR offer from PenFed, when the alternative is to leave it in place for a 20% or more rate, then to heck with the FICO score, I'm taking the low cost alternative if that is available. The FICO score will recover as this card gets paid down, and the future relationship with PenFed, the future CLI, will be enhanced. Money in my pocket from taking the low cost alternative. FICO ain't paying me for my points.
How could anyone give you an exact number? Impossible due to each profile is different ...Come on now lets keep it real and accurate Lol
For you it may be 11 points, for me it may be 50 points and for the next person no movement at all but clearly you can't say that this is a myth because this is exactly whats contained in the Fico algorithm as far as UTL with cards . That's undisputed and fact...
What it boils down to is thick or thin file results based on UTL and each persons CR in the end and not you I or anyone else can put a definitive number of the amount of loss/magical number of how many points...
I agree with you on one point tho ...if its going to save you dollars by all means the hell with fico scoring during that period