Revolving balance too high?

[Anonymous]

Current revolving balance is $62,000. Util 99%,ouch I know. $43,000 is coming from AU accounts that are moms from remodeling her house. I can be removed from those accts and it won't affect my AAoA(already done the math). That leaves me with revolving of $19,000. at or around 95% util from my own construction project. Anyone think this could help?

[llecs]

IMO, going from 99% to 95% won't help any, unless the AU CC was at or over 100%.

[Anonymous]

Even though total revolving balances would decrease by $43,000? Page 2 of report says util is high and amount owing is too high. Simlator says a 30-70 point jump with paying off $43,000 of existing debt in one month. Don't know the accuracy of sim. which is why I'm asking.

[Jazzzy]

---

@Anonymous wrote:

Current revolving balance is $62,000. Util 99%,ouch I know. $43,000 is coming from AU accounts that are moms from remodeling her house. I can be removed from those accts and it won't affect my AAoA(already done the math). That leaves me with revolving of $19,000. at or around 95% util from my own construction project. Anyone think this could help?

---

kovacs, I can't see that these AU accounts are doing you any good, and I believe they may actually be doing harm.

If these accounts are not helping your utilization, and if they are not helping your AAoA...then I don't understand why you want them to show on your report.

I'd take myself off, and then you can always gradually put yourself back on if the time comes they can give you a FICO improvement.

[llecs]

Per the simulator, it is assuming that you are paying down the debt AND keeping the card, thereby decreasing util by much more than 95%.

I believe the amount owing is tied directly in with the utilization.Util will remain high after the card disappears.

[smallfry]

Take yourself off those cards.

[Anonymous]

---

@Anonymous wrote:
Even though total revolving balances would decrease by $43,000? Page 2 of report says util is high and amount owing is too high. Simlator says a 30-70 point jump with paying off $43,000 of existing debt in one month. Don't know the accuracy of sim. which is why I'm asking.

---

Hi, kovacs. Paying down balances by $43k would definitely increase your score...IF you also kept all the CLs intact.

If you remove both the CLs and the $43k of balances by taking yourself off as an AU, then you're left with just your own cards, which have a balance of $19k if I'm understanding you correctly.  If, as you say, you'd then be at 95% on your utilization, that means there's 20K total in revolving CLs.

The simulator is showing you what your point jump would be if you had all the CLs remain on your report while paying down by $43k.

Hope that clarifies it for you a bit (and I also hope I'm being accurate here as well!)