Best Way To Reduce My CC Utilization?

[THEKM]

Looking for advice on what is the best way, scoring-wise, to reduce my CC's utilization.

I have the following cards: 

Apple Card - 3840/4000 

AMEX - 5800 / 6000

Discover - 90/500

Capital One QS1 - 100/500

Capital One QS - 40/400

Bank of America - 30/700

Looking over the cards above, you might have a question on how in the world is the Apple Card & AMEX Limits considerably higher than the rest?

So back when I didn't have an SSN, I only had an ITIN. What I did first was apply for the BOA, secured and that got me $500 SL. Then afterwards, I applied for the AMEX and they gave me $6000 SL. The BOA graduated and SL increased to 700. With the same ITIN, I then applied for Apple Card, QS1 and QS. Then I got my SSN, I applied for my Discover. I got $500, which is understandable considering my scores at the time, weren't the best due to the fact I was facing some financial changes in life. 

I'm in a much better position now and are at a point where I'm able to outright pay off the AMEX and Apple Card down. What I don't want, however is to have the limits reduced to how long they've been near 100% utilization. 

I've been experimenting with the Discover, QS, QS1 and BOA by paying them outright. They were near 100% individually but I paid them all off in one single month and didn't see any CLD. Maybe because the limits were already low as is. 

I was thinking of either, getting the Apple and AMEX down to 60% and then down to <10% or just outright <10%? What is the best for scoring purposes?

In hindsight I shouldn't have applied for the Discover as that brought my AaoA down but I wanted in with Discover, so...

Any advice is appreciated! Thank you

[Thomas_Thumb]

Have no more than 50% of your cards report a balance. Then step down utilization on your high limit cards. First bring each to under 49% and then to under 29%. Fico has a scoring metric that looks at highest % utilization on all your cards as well as aggregate utilization.

[GZG]

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@THEKM wrote:

Looking for advice on what is the best way, scoring-wise, to reduce my CC's utilization.

I have the following cards: 

Apple Card - 3840/4000 

AMEX - 5800 / 6000

Discover - 90/500

Capital One QS1 - 100/500

Capital One QS - 40/400

Bank of America - 30/700

Looking over the cards above, you might have a question on how in the world is the Apple Card & AMEX Limits considerably higher than the rest?

So back when I didn't have an SSN, I only had an ITIN. What I did first was apply for the BOA, secured and that got me $500 SL. Then afterwards, I applied for the AMEX and they gave me $6000 SL. The BOA graduated and SL increased to 700. With the same ITIN, I then applied for Apple Card, QS1 and QS. Then I got my SSN, I applied for my Discover. I got $500, which is understandable considering my scores at the time, weren't the best due to the fact I was facing some financial changes in life. 

I'm in a much better position now and are at a point where I'm able to outright pay off the AMEX and Apple Card down. What I don't want, however is to have the limits reduced to how long they've been near 100% utilization. 

I've been experimenting with the Discover, QS, QS1 and BOA by paying them outright. They were near 100% individually but I paid them all off in one single month and didn't see any CLD. Maybe because the limits were already low as is. 

I was thinking of either, getting the Apple and AMEX down to 60% and then down to <10% or just outright <10%? What is the best for scoring purposes?

In hindsight I shouldn't have applied for the Discover as that brought my AaoA down but I wanted in with Discover, so...

Any advice is appreciated! Thank you

---

Amex and GS aren't skittish like Synchrony or Comenity

I would pay off Amex in full and pay off GS as much as you can as soon as you can and whatever happens, happens. Amex will appreciate you being good now and hopefully any AA they do, if any, is only temporary which it can be if you are better off now. 

if they were going to AA, they will, regardless of how you end up paying them off. 

delaying paying or trying to widdle down the balances is only going to give them more account reviews of you at high balances and leading to them to believe you're still struggling, along with the interest. 

If I was you, I'd push a PIF to Amex tonight and put a large payment to GS and let whatever happens happen.

[SouthJamaica]

---

@THEKM wrote:

Looking for advice on what is the best way, scoring-wise, to reduce my CC's utilization.

I have the following cards: 

Apple Card - 3840/4000 

AMEX - 5800 / 6000

Discover - 90/500

Capital One QS1 - 100/500

Capital One QS - 40/400

Bank of America - 30/700

Looking over the cards above, you might have a question on how in the world is the Apple Card & AMEX Limits considerably higher than the rest?

So back when I didn't have an SSN, I only had an ITIN. What I did first was apply for the BOA, secured and that got me $500 SL. Then afterwards, I applied for the AMEX and they gave me $6000 SL. The BOA graduated and SL increased to 700. With the same ITIN, I then applied for Apple Card, QS1 and QS. Then I got my SSN, I applied for my Discover. I got $500, which is understandable considering my scores at the time, weren't the best due to the fact I was facing some financial changes in life. 

I'm in a much better position now and are at a point where I'm able to outright pay off the AMEX and Apple Card down. What I don't want, however is to have the limits reduced to how long they've been near 100% utilization. 

I've been experimenting with the Discover, QS, QS1 and BOA by paying them outright. They were near 100% individually but I paid them all off in one single month and didn't see any CLD. Maybe because the limits were already low as is. 

I was thinking of either, getting the Apple and AMEX down to 60% and then down to <10% or just outright <10%? What is the best for scoring purposes?

In hindsight I shouldn't have applied for the Discover as that brought my AaoA down but I wanted in with Discover, so...

Any advice is appreciated! Thank you

---

Pay the 4 small balances down to zero, and let them report zero balances each month. Pay Amex and Apple each down to reporting 28% balances (i.e. Apple down to $1120 or less, and Amex down to reported balance of $1680 or less)

[THEKM]

---

@SouthJamaica wrote:

---

@THEKM wrote:

Looking for advice on what is the best way, scoring-wise, to reduce my CC's utilization.

I have the following cards: 

Apple Card - 3840/4000 

AMEX - 5800 / 6000

Discover - 90/500

Capital One QS1 - 100/500

Capital One QS - 40/400

Bank of America - 30/700

Looking over the cards above, you might have a question on how in the world is the Apple Card & AMEX Limits considerably higher than the rest?

So back when I didn't have an SSN, I only had an ITIN. What I did first was apply for the BOA, secured and that got me $500 SL. Then afterwards, I applied for the AMEX and they gave me $6000 SL. The BOA graduated and SL increased to 700. With the same ITIN, I then applied for Apple Card, QS1 and QS. Then I got my SSN, I applied for my Discover. I got $500, which is understandable considering my scores at the time, weren't the best due to the fact I was facing some financial changes in life. 

I'm in a much better position now and are at a point where I'm able to outright pay off the AMEX and Apple Card down. What I don't want, however is to have the limits reduced to how long they've been near 100% utilization. 

I've been experimenting with the Discover, QS, QS1 and BOA by paying them outright. They were near 100% individually but I paid them all off in one single month and didn't see any CLD. Maybe because the limits were already low as is. 

I was thinking of either, getting the Apple and AMEX down to 60% and then down to <10% or just outright <10%? What is the best for scoring purposes?

In hindsight I shouldn't have applied for the Discover as that brought my AaoA down but I wanted in with Discover, so...

Any advice is appreciated! Thank you

---

Pay the 4 small balances down to zero, and let them report zero balances each month. Pay Amex and Apple each down to reporting 28% balances (i.e. Apple down to $1120 or less, and Amex down to reported balance of $1680 or less)

---

Thank you for the input. If I may ask, why specifically to 28%? Just curious. 

[THEKM]

---

@Thomas_Thumb wrote:

Have no more than 50% of your cards report a balance. Then step down utilization on your high limit cards. First bring each to under 49% and then to under 29%. Fico has a scoring metric that looks at highest % utilization on all your cards as well as aggregate utilization.

---

Thank you for the input! 

[THEKM]

---

@GZG wrote:

---

@THEKM wrote:

Looking for advice on what is the best way, scoring-wise, to reduce my CC's utilization.

I have the following cards: 

Apple Card - 3840/4000 

AMEX - 5800 / 6000

Discover - 90/500

Capital One QS1 - 100/500

Capital One QS - 40/400

Bank of America - 30/700

Looking over the cards above, you might have a question on how in the world is the Apple Card & AMEX Limits considerably higher than the rest?

So back when I didn't have an SSN, I only had an ITIN. What I did first was apply for the BOA, secured and that got me $500 SL. Then afterwards, I applied for the AMEX and they gave me $6000 SL. The BOA graduated and SL increased to 700. With the same ITIN, I then applied for Apple Card, QS1 and QS. Then I got my SSN, I applied for my Discover. I got $500, which is understandable considering my scores at the time, weren't the best due to the fact I was facing some financial changes in life. 

I'm in a much better position now and are at a point where I'm able to outright pay off the AMEX and Apple Card down. What I don't want, however is to have the limits reduced to how long they've been near 100% utilization. 

I've been experimenting with the Discover, QS, QS1 and BOA by paying them outright. They were near 100% individually but I paid them all off in one single month and didn't see any CLD. Maybe because the limits were already low as is. 

I was thinking of either, getting the Apple and AMEX down to 60% and then down to <10% or just outright <10%? What is the best for scoring purposes?

In hindsight I shouldn't have applied for the Discover as that brought my AaoA down but I wanted in with Discover, so...

Any advice is appreciated! Thank you

---

Amex and GS aren't skittish like Synchrony or Comenity

I would pay off Amex in full and pay off GS as much as you can as soon as you can and whatever happens, happens. Amex will appreciate you being good now and hopefully any AA they do, if any, is only temporary which it can be if you are better off now. 

if they were going to AA, they will, regardless of how you end up paying them off. 

delaying paying or trying to widdle down the balances is only going to give them more account reviews of you at high balances and leading to them to believe you're still struggling, along with the interest. 

If I was you, I'd push a PIF to Amex tonight and put a large payment to GS and let whatever happens happen.

---

When I saw your comment, I went over my payment history with both banks and actually, during May 2023, there was a payment I made on GS that brought reported balance of $1300 but then it went up again to what it was today due to an emergency. There was no AA on that part. 

On the AMEX, I once made a $2500 payment and let it report and there was no AA. 

I should also report that, only my AMEX, BOA and Discover are reported to all three credit bureaus - because I've sent each of those banks mail stating my new SSN. The GS and Capital1, however only report to some credit bureaus but not all three. 

Wondering if this little tidbit might actually make it helpful to fight AA? 

[Thomas_Thumb]

I don't think you need to be concerned about AA given you don't keep utilization levels high (meaning above 70%) for extended periods of time. To further minimize risk always make more than the minimum payment.

FYI - there are utilization threshold metrics for cards. Many of us use 29% and 49% as the benchmarks. SJ uses 28% and 48%.

[SouthJamaica]

---

@THEKM wrote:

---

@SouthJamaica wrote:

---

@THEKM wrote:

Looking for advice on what is the best way, scoring-wise, to reduce my CC's utilization.

I have the following cards: 

Apple Card - 3840/4000 

AMEX - 5800 / 6000

Discover - 90/500

Capital One QS1 - 100/500

Capital One QS - 40/400

Bank of America - 30/700

Looking over the cards above, you might have a question on how in the world is the Apple Card & AMEX Limits considerably higher than the rest?

So back when I didn't have an SSN, I only had an ITIN. What I did first was apply for the BOA, secured and that got me $500 SL. Then afterwards, I applied for the AMEX and they gave me $6000 SL. The BOA graduated and SL increased to 700. With the same ITIN, I then applied for Apple Card, QS1 and QS. Then I got my SSN, I applied for my Discover. I got $500, which is understandable considering my scores at the time, weren't the best due to the fact I was facing some financial changes in life. 

I'm in a much better position now and are at a point where I'm able to outright pay off the AMEX and Apple Card down. What I don't want, however is to have the limits reduced to how long they've been near 100% utilization. 

I've been experimenting with the Discover, QS, QS1 and BOA by paying them outright. They were near 100% individually but I paid them all off in one single month and didn't see any CLD. Maybe because the limits were already low as is. 

I was thinking of either, getting the Apple and AMEX down to 60% and then down to <10% or just outright <10%? What is the best for scoring purposes?

In hindsight I shouldn't have applied for the Discover as that brought my AaoA down but I wanted in with Discover, so...

Any advice is appreciated! Thank you

---

Pay the 4 small balances down to zero, and let them report zero balances each month. Pay Amex and Apple each down to reporting 28% balances (i.e. Apple down to $1120 or less, and Amex down to reported balance of $1680 or less)

---

Thank you for the input. If I may ask, why specifically to 28%? Just curious. 

---

You want to be under 30%. And being at 28% insures that you won't be rounded up to 30%.

[THEKM]

---

@Thomas_Thumb wrote:

I don't think you need to be concerned about AA given you don't keep utilization levels high (meaning above 70%) for extended periods of time. To further minimize risk always make more than the minimum payment.

FYI - there are utilization threshold metrics for cards. Many of us use 29% and 49% as the benchmarks. SJ uses 28% and 48%.

---

Actually I've been spending most of the time above 70% and it was just during those rare instances that it was reported below 70% but none have decreased limit or anything. The other cards, though, while now way below 70%, have only spent about 2-3 months doing so; outside of that they've been near limit as well. 

Thank you for your input nontheless though!