@Anonymous wrote:
How is Total UTI calculated? For example:
Card #1 has a $400 CL. I pay it down to $36 which is 9%
Card # 2 has a $300 CL. I pay it down to $27 which is 9%
Is total UTI calculated as 9% + 9% = 18%?
Or is UTI calculated as what percentage $63 (total balance) is of $700, so it would be 9%?
Thanks!
Total utilization for you would be 9% ( Total balances of $63 divided by total credit limits of $700).
FICO also scores individual account utilization which in your example is also 9% for each account.
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".
