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Utilization question

RussianPassion
Regular Contributor

Utilization question

From what I understand, utilization is the difference of available credit vs. balance.

 

My question...

 

Case A: 1 CC. 300CL, 10% utilization

Case B: 2 CC. CC1 300CL, 10% utilization and CC2 1000CL, 10% utilization

 

Will I have higher FICO in Case B? In other words, does the amount of actual AVAILABLE credit affect the scores on top of % of utilization?

Message 1 of 2
1 REPLY 1
MarineVietVet
Moderator Emeritus

Re: Utilization question


@RussianPassion wrote:

From what I understand, utilization is the difference of available credit vs. balance.

 

My question...

 

Case A: 1 CC. 300CL, 10% utilization

Case B: 2 CC. CC1 300CL, 10% utilization and CC2 1000CL, 10% utilization

 

Will I have higher FICO in Case B? In other words, does the amount of actual AVAILABLE credit affect the scores on top of % of utilization?


The amount of available credit is not scored; only the percentage of the CL's used each month. FICO scores both overall and individual account utilization plus the number of accounts reporting a balance.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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