28% UTL, how much will it hurt?

[Desmoire]

After buying christmas presents etc for my gf and family, i brought my total UTL to 28%. Assuming I get it paid off by March, how much will this currently hurt my score?

[llecs]

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@Desmoire wrote:

After buying christmas presents etc for my gf and family, i brought my total UTL to 28%. Assuming I get it paid off by March, how much will this currently hurt my score?

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Where was overall util reporting prior to now?

[Desmoire]

the previous reporting was 57% (Oct 29th I paid everything off down to about 2%) so technically I have reduced my UTL by 30%.

[llecs]

The new 28%, if it reports that way, is still high for util, but it's much better than 57%. You might see a small bump....depends on how many new TLs report a balance vs. prior, whether any specific cards are maxed out, etc. 

[impinth_llq]

I think uti between 10% -30% are the same category, not as good as 1% - 10% but definitely better than >30%

Make sure pay it down to < 10% (on your credit report) before you make next CC application

[takeshi74]

We really can't tell you "you're losing X points for Y utilization" as we don't know what algorithms are used and there are different versions of scoring models as well.

28% is under the generally recommended max of 30% but optimal scoring is going to be achieved at a much lower utilization.  28% is better than 57% and you should see some improvement but your score will continue to improve as you drop your utilization -- to a point, probably somewhere around 10% or less.