15pt increase something is wrong here

nate79416 · ‎05-03-2015

Ex 15pt increase it says credit card utlization is 92%. First of thats wrong I only have one credit card the limit is 2250 balance is 1654 yes I am paying it down to 20-30%, but I am not at 92% and the increase confused me, 92% is bad and thats not where I am. Whats going on?

I do have a charge off from CO and in the works to pay for removal. Just waiting on an answer. Does that charge off have anything to do with this?

Thanks

Dj4Money · ‎05-03-2015

@nate79416 wrote:
Ex 15pt increase it says credit card utlization is 92%. First of thats wrong I only have one credit card the limit is 2250 balance is 1654 yes I am paying it down to 20-30%, but I am not at 92% and the increase confused me, 92% is bad and thats not where I am. Whats going on?

I do have a charge off from CO and in the works to pay for removal. Just waiting on an answer. Does that charge off have anything to do with this?

Thanks

Lots of things could cause that.

Have you continued to make on-time payments past 30-60-90-120 days? Since balances have no memory; if your utilization dropped from one month to the next, even a little bit, your score will go up. I went from reported 97% utilization to 94% and my score went up 15 points.

All the more reason to keep your balances under 30% realistically and 9% ideally.

nate79416 · ‎05-03-2015

Yes I have paid on time, no lates on my credit card only one in aug 2013. ( I have sent a gw letter to see if I can get that removed)That jump kinda confused me

Anonymous · ‎05-04-2015

@nate79416 wrote:
Ex 15pt increase it says credit card utlization is 92%. First of thats wrong I only have one credit card the limit is 2250 balance is 1654 yes I am paying it down to 20-30%, but I am not at 92% and the increase confused me, 92% is bad and thats not where I am. Whats going on?

I do have a charge off from CO and in the works to pay for removal. Just waiting on an answer. Does that charge off have anything to do with this?

Thanks

Yes, a CO with a balance owing will be computed against your UTI%.