Not True! I have heard this too. FICO factors both util on each revolving TL and as well as util on all revolving TLs collectively. Any time even one cc shows util that high your scores will drop irregardless if it caused by BTs. CRAs do not make a special notation on your reports regarding BTs. 70-90% util is what they report. A definite good size ding will result.
sankofa wrote:Please tell me if this is true.It's okay to max out 70% to 90% of one's credit limit on one card with balance transfers? I was told this on two different forums.Thanks,SandyK
sankofa wrote:Thanks All!!I wonder why on earth did the people feel that this was okay? I have gone 80% and received a ding of about 13 points. I have since paid that down to under 50% and a few more bills this month of June and now I'm awaiting an update.I feel it's a no win situation when I have enough available credit to pay off 95% of my bills but can't utilize the full credit limits on two or three cards to achieve this, because it would put me at 90% across all three.SandyK