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Read this while looking at my reports on CK -
Credit card utilization is the percentage of your total credit limits that you’re using. A higher credit card utilization typically results in a lower credit score. This section identifies any accounts with a utilization rate of more than 30%.
I then searched some threads here. Saw mentions of individual card card utilization over 50% being considered high and 80-something percent and higher as being considered maxed out. Is there a score benefit from having all cards under 30%? I used 50% when I did a test to see what would happen if I let balances report last month. Kept the two cards that were reporting the highest balances just under that. I now have one at 42%. Wondering if 29% would fine tune my scores. Current total utilization is 8.95%. It would go down to 6.30% if I drop that card down to 29%.
@masscredit wrote:Read this while looking at my reports on CK -
Credit card utilization is the percentage of your total credit limits that you’re using. A higher credit card utilization typically results in a lower credit score. This section identifies any accounts with a utilization rate of more than 30%.
I then searched some threads here. Saw mentions of individual card card utilization over 50% being considered high and 80-something percent and higher as being considered maxed out. Is there a score benefit from having all cards under 30%? I used 50% when I did a test to see what would happen if I let balances report last month. Kept the two cards that were reporting the highest balances just under that. I now have one at 42%. Wondering if 29% would fine tune my scores. Current total utilization is 8.95%. It would go down to 6.30% if I drop that card down to 29%.
My understanding is that 49%, 29%, and 9% are significant milestones.