Util

[illcrew3]

I have a Dell Finance account with a 3,500 limit. I do not use this account at all so my util is 0%. Will this 3,500 limit reflect on my overall util and help out with my FICO score?

[fused]

This dell finance account is it revolving? Also do you have other CCs? If yes, what are the CLs and balances on each of them?

[illcrew3]

I don't know if the dell is revolving. I have 2 credit cards 700 and 550 limits with 62% util on both, a paypal buyer credit with a 300 limit 0% util, a retail service card with a 600 limit 15% util, and a bestbuy card 1000 limit and 50% util. I don't think any of that has to do with whether or not the dell account will help my score when its not being used.

[fused]

I cannot answer your question until I know which type of an account Dell Finance is. Rather it's an installment or revolving  account makes a huge difference.

[illcrew3]

I just looked up the dell it is a revolving account.

[fused]

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illcrew3 wrote:

I just looked up the dell it is a revolving account.

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Yes this dell account is definitely helping your cumulative util% calculation. Your util on the other CCs isn't so good though.

[illcrew3]

Ok thanks. Would it help better if I made a small purchase with it? My overall util will be less then 10% next billing cycle.

[fused]

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illcrew3 wrote:

Ok thanks. Would it help better if I made a small purchase with it? My overall util will be less then 10% next billing cycle.

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FYI, FICO scoring has two types of util% calculations: one that looks at the extent of utilization on individual revolving accounts (i.e. each CC, overdraft protection and sometimes Heloc’s) and the other is cumulative and looks at the extent of utilization on all of your revolving accounts. In your situation if each of your revolving accounts is reporting less than 10%, bingo max FICO points. You should see a nice increase in your scores.

[illcrew3]

Sweet thanks. Now I'm looking forward to paying down to 10% next billing cycle.

[fused]

Hey guy, let us know what happens to your scores.