90% Utilization vs Over the Limit

[Anonymous]

---

Holy smokes Brutal, thanks man! FICO on creditscorecard is 653 vs 594 VantageScore(?) on CK. That’s super encouraging. Hopefully will get a few points with these paydowns and get that BOA card under 90 soon for a nice jump with a Xmas bonus or tax return.
One thing I read though is VantageScore targeted apartments/rentals. Hope that’s not the case here.
Either way, very very helpful and useful. Cheers to you man, have a great thanksgiving!

---

653 is a workable number and not all too far of from being in a good place.  Getting your utilization down into the 87-88% range like HO suggested is a great idea.  Keep in mind that every aggregate utilization threshold that you cross will likely grab you around another 15 FICO points... That being said, I'd guess that if you were to get your overall utilization below 48.9% (crossing the 88.9/68.9/48.9 thresholds) your score above would probably land right around 700, possibly a little above if you take down your highest individual utilization card across the same thresholds as well.

[jamesdwi]

---

@Anonymous wrote:
Hello!! I have been scanning around trying to find if there’s an impact on my score for being over the limit or if it’s the same negative as a 90% utilization ding. Essentially needing a bump in my score and wondering if it’s worth paying BOA down $500 to get under the limit (can’t afford to get it under 90 yet). All low 20s APR. Just paid the rest down and should all stay under 90% when cycle ends. Thank you.
Balance/Limit - Pmt:
BOA1: $7276/$7000 - $211/mo
BOA2: $1873/$2200 - $25/mo (0% Interest)
USAA: $5177/$6000 - $150/mo
Chase: $1758/$2000 - $60/mo

---

another question you need to check out, are any of these "signature" cards, sometimes this type of card being over the limit won't impact your score negatively, but they come with an extra burden, in that any amount over the credit limit will need to be paid off in additional to the minimum monthly payment, perferably a lot more than the minimum payment. Check the card it self for the work signature, or your credit report "flexible spend" wording, and check your statement to see if it mentions you need to pay the amount over the limit +minimum. 

'

[Anonymous]

---

---

another question you need to check out, are any of these "signature" cards, sometimes this type of card being over the limit won't impact your score negatively

---

I've never heard of a "signature" card being viewed any differently by the FICO algorithm than a non-signature card.  Do you have a source where you heard about this?

[jamesdwi]

this thread sums things up, it may be a bit old and outdated, I don' t have any personal experience, I have never personally needed to charge past my credit limits. 

https://ficoforums.myfico.com/t5/Credit-Cards/Visa-Signature-CL-Reporting/td-p/850832/page/2

[Anonymous]

Hi James.  That thread doesn't seem to touch on the claim you made which puzzled BBS.  I.e. you said that a card could be reporting a balance greater than its credit limit without any harm to the credit score.  It's the part I just italicized that surprised BBS. 

Our OP is asking about a card in which both the balance and the credit limit appear on the report and the balance is > than the CL.

PS.  I agree with you that the thread you cite is very old.  My memory is that many years ago some Signature cards were not showing a CL on the report (uncommon but it happened).  That's consistent with the 2011 posts.  And then a few years later this problem was fixed (thus the 2013 posts).