Question about "Available Credit"

[Anonymous]

So I just checking my capital one credit wiz score or whatever it is, which by the way flies up and down by 50-100 pts when I check it, anyway I noticed that one of the 6 things it has listed is "Available Credit" and that to have "excellent" available credit you need to have 50k of credit available to you.

Is that something that affects FICO scoring too or just vantage.

I just recently broke 10K available credit by getting a cli on amazon card to $3500 and my score on cap1s site is now 670 (was previously 608).

Should I get on the horn with credit solutions and ask for increases on my walmart/paypal/sunglass hut accounts to get into the "good" available credit which is 15k-49k?

Oh and I did the simulator to pay off the 10% util and my score dropped to 610 on the simulator.... 

[kdm31091]

FICO, as far as I know, doesn't have an abritrary amount of available credit at which point your score increases. FICO cares about utilization, but low or zero utilization can be achieved regardless of your overall limits.

I personally don't ask for increases unless I use the card frequently and will actually benefit from it. Having a high limit card sitting in a drawer never really appealed to me. YMMV.

[RonM21]

I'd be slow to react to the recent update from creditwise tracker from Cap1. As you pointed out, it is only a vantage score and fluctuates a lot. In your sig, it shows your Fico8 on 4/1 as 663. Is there a way to see what it is currently, to find out how it may have changed since then?

[Anonymous]

Yes I agree with the credit line being what you need and not just to sit in a drawer, I never use sunglass hut, probably never will, I got it because it gave me 30% off on my first purchase but it has no rewards on it. 

I never thought I would use paypal or walmart but they come in handy because I usually Like running a 0% util and that requires only using cards for 20 days out of the month.

As far a FICO goes my Discover and Walmart cards "should" update their scores  within 10 days and I'll see if there is any significant change then.

I would really like to have cards that give free FICO from all 3 bureaus instead of just TU 

[takeshi74]

It's not just the CRA that matters but the specific scoring model as well.  FICO doesn't have just one model and creditors do not all use the same model.  See also the Understanding FICO Scoring subforum and its stickies.  Make sure you're considering both the CRA and the model when referencing any score.

[Anonymous]

While the available credit figuring into your credit score may seem arbitrary, depending on the model and the creditor, judicious use of a high amount of available credit can indicate a high level of responsibility. That is, you have all this available credit yet you only use 1-10% of it at any given time instead of maxing them out and revolving a high amount of debt.