@Anonymous wrote:
or does it factor each specific card you have? For example... I have just shy of 50,000 in available credit with my credit cards. However 2 of them (AMEX and Discover) I use the most. So for example... let's say my credit utilization for each of these cards individually will be let's say 25% each month. However Both of these cards account for $29,300 of my total available credit. Let's say my other credit cards have a $0 balance. At the end of the month... my only dept is $7325 (25% of 29,300 AMEX and Discover total available credit). **This figure is before paying down***
So... does the credit bureaus say my credit utilization is 25% OR... 15% ($7325 total dept divided into total available credit with ALL credit cards ($50,000))?
Thanks in advance
The overall utilization figure is the lower one (total balances divided by total CLs).
FICO scoring does look at the util on the individual cards, as well, and will penalize you if, for example, you have too high a balance on any one card or have more than 50% of your cards reporting balances, but reported overall util is total balances divided by total CLs.
