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DP for loans over 100% utilization

Chandler455
Established Contributor

DP for loans over 100% utilization

I have 4 loans over 100% utilization due to accrued interest

 

Paid 1 that was originally 1000, down to 880 from 1300, TU jumped 9 points, and ex jumped 5, so apparently getting under 100% does earn points back, I do realize I also crossed the 88.9% threshold, my question is do installment loans have payment thresholds for points like revolvers, should I pay more down on the one I have under 100% or get another one of the 4 under 100% for max point benefit?

Personal
NFCU platinum 18k | Best Buy visa 10k | NFCU Flagship 8k | discover it 4.7k | kohls 3k | target 800

Business
Hilton Amex 15k | Costco visa 10k | Amex Amazon prime 9k

Ficos TU 831 EQ 805 EX 814
2 REPLIES 2
PutThatMoneyOnTheTable
Established Contributor

Re: DP for loans over 100% utilization

I'm not sure of your current circumstances, but personally I would be more concerned about the interest being paid and focus on paying off the higher interest loans first. The points will bounce back once the loans are paid and the latest fall off (if you do have lates). JMO. Hopefully others will answer your question and provide more insight. 

Amex BCP $35k
Chase FU $11.2k
BOA Cash Rewards $35k
Comenity BJs Perks Plus M/C $14k
Cap1 QS $850
(AU), 2020 TU 801, EX 795, EQ 792
INQ ...TU-0, EX-2 EQ-3
Message 2 of 3
Chandler455
Established Contributor

Re: DP for loans over 100% utilization

Luckily they are student so due to covid, they aren not collecting interest until October, but I think that's what I'm going to do start hitting each one to get them under the 100% threshold then pay down after

Personal
NFCU platinum 18k | Best Buy visa 10k | NFCU Flagship 8k | discover it 4.7k | kohls 3k | target 800

Business
Hilton Amex 15k | Costco visa 10k | Amex Amazon prime 9k

Ficos TU 831 EQ 805 EX 814
Message 3 of 3
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