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Point question

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Anonymous
Not applicable

Re: Point question

How would I figure that out. The one CC limit is 1,000 and the line of credit is 2,000. Thanks!

Message 11 of 14
Shogun
Moderator Emeritus

Re: Point question


@Anonymous wrote:

How would I figure that out. The one CC limit is 1,000 and the line of credit is 2,000. Thanks!


That would put your util at aroulnd 50%.  If you were to pay it down below $200 that would give you the biggest boost on your score.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 12 of 14
Anonymous
Not applicable

Re: Point question

On which one the CC or line of credit? Thanks!

Message 13 of 14
Anonymous
Not applicable

Re: Point question

I think he misread your post.  If you had a $1000 balance on a $2000 CL you would be at 50%.  That isn't your case.

 

For optimum FICO scoring have all but one CC report a 0 balance and the other at 9% or below.  YMMV so tinker around with the %.

 

You figure utilization on each card by dividing the balance by the CL.  For an aggregate utilization, add all balances together divided by all CL added together.

Message 14 of 14
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