UTIL - Total or Each?

[Anonymous]

Does FICO calculate this as a total (all balances totaled divided by all CLs totaled) or is it each individual and if you are over 9% on any of them - you are toast?

[Anonymous]

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Lady_Scarlet wrote:

Does FICO calculate this as a total (all balances totaled divided by all CLs totaled) or is it each individual and if you are over 9% on any of them - you are toast?

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FICO counts total utilizaton, though being maxed out on any one card can really hurt your score.

[Tuscani]

Both... but as Brammy said.. maxing out one card would hurt you more than spreading that balance across several cards.

[Anonymous]

Maxing out is considered what?  Anything over 50%?   What is the maximum amount of points a person can be dinged by maxing out one credit card? 

SandyK

[fused]

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sankofa wrote:

Maxing out is considered what?  Anything over 50%?   What is the maximum amount of points a person can be dinged by maxing out one credit card? 

SandyK

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95% util on any CC is considered maxed-out.

[Anonymous]

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sankofa wrote:

Maxing out is considered what?  Anything over 50%?   What is the maximum amount of points a person can be dinged by maxing out one credit card? 

SandyK

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Maxing out one card can hurt you as much as a collection.

[Anonymous]

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fused111 wrote:

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sankofa wrote:

Maxing out is considered what?  Anything over 50%?   What is the maximum amount of points a person can be dinged by maxing out one credit card? 

SandyK

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95% util on any CC is considered maxed-out.

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           Thanks fused111.  I heard so many percentages but 95% would seem

           maxed-out for sure! 

[Anonymous]

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Brammy wrote:

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sankofa wrote:

Maxing out is considered what?  Anything over 50%?   What is the maximum amount of points a person can be dinged by maxing out one credit card? 

SandyK

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Maxing out one card can hurt you as much as a collection.

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         Ouch!! 

[Anonymous]

i have a loc that's maxed out will that have the same effect as a collection?

[fused]

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dnm45227 wrote:

i have a loc that's maxed out will that have the same effect as a collection?

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If it reports as a revolving account, then yes this account would report as maxed-out just like a CC. Most LOCs report as revolving.