cancel
Showing results for 
Search instead for 
Did you mean: 

Benefit from single card utlization below 30%?

tag
masscredit
Senior Contributor

Benefit from single card utlization below 30%?

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%.  

EQ - 698 / TU - 672 / EX - 686

Capital One Savor - $16000 / Capital One Venture - $13000 / Travel Advantage Visa - $11500 / TD Cash Card - $7500 / Bread Rewards AMEX - $6950 / Apple Card - $6500 / TD Double Up - $5500 / Mercury - $5000 / Ally Master Card - $4300 / DCU Visa - $3000 / Capital One QuickSilver - $500
$79,750
DCU Auto Loan
Message 1 of 2
1 REPLY 1
SouthJamaica
Mega Contributor

Re: Benefit from single card utlization below 30%?


@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.


Total revolving limits 569520 (505320 reporting) FICO 8: EQ 689 TU 691 EX 682




Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.