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Reported Utilization

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huzchris
Valued Member

Reported Utilization

Just a quick question about the difference, if any between the "High Balance" and a balance that was reported for any given month...which one is the number that will hammer your scores if maxed out?
Starting Score: 486
Current Score: 775
Goal Score: 850


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Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Reported Utilization

For utilization purposes it is the currently reported balance that would effect your score.
Message 2 of 5
huzchris
Valued Member

Re: Reported Utilization

Thank you, that is what I thought. How much weight does the "High Balance" line have with creditors? Is it one of those YMMV?
Starting Score: 486
Current Score: 775
Goal Score: 850


Take the myFICO Fitness Challenge

|| NFCU CashRewards $19K || Amazon Prime $11K || PenFed PowerCash Rewards $17.5K || Citi Costco $8.1K || Discover Chrome $8K || AmEx BlueCashPreferred $5K || Citi Rewards+ $2.3K || Apple $2K || AmEx Green || CAL Ranch $13.1K || Sportsman's Guide $4K || Fingerhut $1.6K ||
Message 3 of 5
Gramz
Contributor

Re: Reported Utilization

It's all depending on your overall credit utalization and maybe it's a factor is you got a high balance on other cards.  I got CC approve with high utalization at the time. 

 

So I will also say's YMMV when it comes to that particular creditor.

Gardening ‎10-13-2017

FICO 8[10-25-2017] EX: 706, EQ: 714, TU: 719
FICO 8[1-04-2018] EX: 714, EQ: 737, TU: 721
Message 4 of 5
RobertEG
Legendary Contributor

Re: Reported Utilization

Fair Isaac has stated in the past that they use high balance as a psuedo credit limit for cards that do not have a preset credit limit.

 

Message 5 of 5
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