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Utilitization?

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Anonymous
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Utilitization?

Hi, I have read that util is to be 1-9% - but I thought I also read somewhere to get it under 30% is good also - I was thinking of moving my "maxed - out" credit card to a larger open line to have better util on that card.  Any input is appreciated.
Thanks - Lynn
Message 1 of 27
26 REPLIES 26
Anonymous
Not applicable

Re: Utilitization?

It's like 30% UTL is the 2nd Alternative for as points. UTL between 1-9% is like the 1st Atl... and will get you the max points...where 50% UTL is the 3rd and last Alt...and over this it will start hurting you.
Message 2 of 27
Anonymous
Not applicable

Re: Utilitization?

"Load balancing" will help. Even one CC with over 50% util tends to sting a lot. Better to have two CCs with 30% than one with 1% and another with 70%.
 
Message 3 of 27
jenkins
Frequent Contributor

Re: Utilitization?

im new to this whole utl thing can someone explain this to me as i prepair to send out my check for my BOA secured cc


Message Edited by jenkins on 07-05-2007 04:25 PM

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Message 4 of 27
Anonymous
Not applicable

Re: Utilitization?

It's my understanding that it is 30% over all Util and to to keep individual accounts under 10%
 
Message 5 of 27
jenkins
Frequent Contributor

Re: Utilitization?

im lost

Starting Score: 643
Current Score: 657
Goal Score: 700


Take the FICO Fitness Challenge
Message 6 of 27
fused
Moderator Emeritus

Re: Utilitization?



jenkins wrote:
im lost


My fingers are sore, try reading Tuscani's credit scoring thread.
 
Message 7 of 27
jenkins
Frequent Contributor

Re: Utilitization?



fused111 wrote:


jenkins wrote:
im lost


My fingers are sore, try reading Tuscani's credit scoring thread.
 


thank you

Starting Score: 643
Current Score: 657
Goal Score: 700


Take the FICO Fitness Challenge
Message 8 of 27
jenkins
Frequent Contributor

Re: Utilitization?

so basically dont max out the card try to keep a good ratio of balance to creit limit

Starting Score: 643
Current Score: 657
Goal Score: 700


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Message 9 of 27
Anonymous
Not applicable

Re: Utilitization?

Say  you have one card with a $2000 and another with a $3000, making $5000 available credit
 
so idea is to keep the combine balances not any higher than $1500($5000*30%)
 
and keep the $2000 card under $200 and $300 for $3000 limit card
Message 10 of 27
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