New Credit Card, same utilization percentage?

[Anonymous]

Hi Kids,

I signed up for a Capital One card, with $1000 credit limit.  When it reported, I had $70 on it, and still had the same 65%(yes, i'm paying that down as soon as I can!)  Is this normal?

Thanks!

JR

[llecs]

For clarification, a new CC reported. It reported with a util of 7% ($70/$1000) but did your overall utilization listed remain at 65% with no change? Was this based on your FICO report, and if so, which one?

It's possible to add new credit and still carry the same utilization. You'd have to do some math to figure out your util before (65%) and compare it to after. Be sure to factor in all of your open CCs, closed CCs carrying a balance, any CO'd CCs carrying a balance, and any LOCs or HELOCs (usually).

[Anonymous]

Yes, my MyFico said I had 67% 3 weeks before, and when the Cap One hit, nothing changed on my Equifax and T-Union.  I hae 4300 in limits and have a total balance of 2880.  My calculations say that it should be down to 56% with the extra $1000 limit?