individual utilization question

[elbori357]

I took advantage and bought some furniture for my new house on a 0 % interest on a very old rooms to go account I had with a 1000 cl. The total purchase is $732 (73% Util) on the individual card also I purchase a new TV $3000 but left an $800 balance on a best buy 0% interest card with a 5800 cl (14% Individual Util) but my overall Util is 3.5% to my available credit.  Those are the only 2 accounts that will show a balance at the end of the week when my CCC normally report.

 I kind of wanted to do a little experiment and see how much would leaving balances cut on 2 different cards affect my scores as opposed to 1-9% on a single card and the rest 0. How much of in terms of points can this account for, once they show on my CR's at the end of the week?

I'm very curious on how FICO sees individual utilization vs. overall utilization.

Anyone with personal experience welcome to provide information.

Thanks

[DaveSignal]

I guess you will see since you are testing it now, but my bet is that you don't see any drastic change.  

[john398]

I think you may use your 700+ FICO but not positive, good luck let us know, my guess be between 690 and 700

[Blackrv7]

Here'a link to my recent experiment.  http://ficoforums.myfico.com/t5/Credit-Cards/CC-s-reporting-vs-score-watch-FICO-score-experiment/m-p... Basically, I had a 3 point drop having two cards report and another 7 point drop with 3 cards reporting. So, three cards...a 10 point drop.  Interesting also is having all cards report 0 resulted in a 7 point drop.  My UTL across the board in each example was, as I recall, 5% + - but certainly under 9%.  Also, the number of cards you have reportedly plays into this as well.  I haven't tested it but read here that if those three represent 50% or greater than your total cards you will also have a drop due to more than 1/2 your cards reporting.  Let us know your results.

[elbori357]

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@Blackrv7 wrote:

Here'a link to my recent experiment.  http://ficoforums.myfico.com/t5/Credit-Cards/CC-s-reporting-vs-score-watch-FICO-score-experiment/m-p... Basically, I had a 3 point drop having two cards report and another 7 point drop with 3 cards reporting. So, three cards...a 10 point drop.  Interesting also is having all cards report 0 resulted in a 7 point drop.  My UTL across the board in each example was, as I recall, 5% + - but certainly under 9%.  Also, the number of cards you have reportedly plays into this as well.  I haven't tested it but read here that if those three represent 50% or greater than your total cards you will also have a drop due to more than 1/2 your cards reporting.  Let us know your results.

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Wow, just read it. 9 dolars gave your points back. I guess that, cards reporting is better than 0 reporting accross the board. Thank you. I want to apply for another cash card for gas to off set my freedom rotation in april but not sure which one to apply since AMEX did not want to play with me when I applied in Feb. Hoping that my EX bounce back this month to 700+ as it was in Feb.

[Blackrv7]

Glad you enjoyed the read.  As for gas this quarter, I'm using my Amex BCP but if Amex is not showing you any love it may not be worth another HP to get the 3% on gas on the BCE or BCP.  Good luck.

[Kenny]

If you're looking for a gas card.. one of the pen fed cards give a 5% rebate for Gas. Also Sallie Mae might be a card that would be awesome for you.. well for most people. lol

The BoA Cash Rewards is 3% on Gas, as well.

Just putting that out there. And yes... the more you have report the worse it is..I hate it when cards report mid-cycle or whatever or you can't get the charges to clear so that you can pay! Hate, hate hate it!

[elbori357]

I was also looking at us bank cash+ but read somewhere here that it is very hard to get approved for. I see that sallie mae is underwriten by barclaycard and pull from transunion. Do they have a generous recon line? Is it the same as barclaycard other products(arrival world master)?