What is the abbreviation for "Utilization"?

[BBYGRL]

I'm having a brief brain fart...What is the abbreviation for "Utilization"? I couldn't find it on the Common Abbreviations link. Thanks!

[fused]

util

[RobertEG]

Really, a very good question.

FICO has a major category of credit scoring, called "utilization of credit."  It is a generic term, often applied to indiv accounts.

That is 30% of your credit score.

But it then quickly breaks down into many sub-factors that are also called "utilization." under that 30% FICO weighting umbrellla.

I list those terms, in my perceived level FICO significance:

1. % util of overall revolving credit.  CLEARLY the most significant util factor.

2. % util of each indiv revolving credit account.

3. Number of revolving accounts showing reproting period  balances of more than $0 at the end of each monthly reporting cycle(low significance)

4. % util on installment loans (very,very low significance.)

[BBYGRL]

---

@RobertEG wrote:

Really, a very good question.

FICO has a major category of credit scoring, called "utilization of credit."  It is a generic term, often applied to indiv accounts.

That is 30% of your credit score.

But it then quickly breaks down into many sub-factors that are also called "utilization." under that 30% FICO weighting umbrellla.

I list those terms, in my perceived level FICO significance:

1. % util of overall revolving credit.  CLEARLY the most significant util factor.

2. % util of each indiv revolving credit account.

3. Number of revolving accounts showing reproting period  balances of more than $0 at the end of each monthly reporting cycle(low significance)

4. % util on installment loans (very,very low significance.)

---

LOL Thanks Robert. I needed the abbreviation and you graciously gave me a thorough definition.

[BBYGRL]

Thank you FUSED!