CC Utilization Question?..

blazerein · ‎10-02-2010

If your total credit utilization is 10% but one card is getting close to it's CL, will that affect your score to go down? My previous utilization from last month is 20% and now it's 10% but one card is closer to it's limit. Thanks in advance.

> >CREDIT UNION

EX- 585, TU- 583, EQ- 563 | CURRENT SCORE UPDATED: 2/2023 -> FICO 8 EX 754 TU 741 EQ 755 | FICO 9 EX 747 EQ 763 TU 756

Anonymous · ‎10-02-2010

Hi blazerein,

Both your individual utilization and your overall utilization affect your score. You may start to see significant FICO score changes when you cross over the 30% mark.

Also, your other creditors may get the willies if they see your high utilization on a single account and may do a little Adverse Action (i.e. CLD, possibly closure).

Can you take any steps to get the utilization on that one account down?

DI · ‎10-02-2010

@blazerein wrote:
If your total credit utilization is 10% but one card is getting close to it's CL, will that affect your score to go down? My previous utilization from last month is 20% and now it's 10% but one card is closer to it's limit. Thanks in advance.

Your score would go up as long as your overall utilization is decreasing. Your score isn't based on just one credit card if you have several that you're juggling.

vanillabean · ‎10-02-2010

It depends on if the nearly maxed out card is used for util. It may not be. Which util percentage does your myFICO score report list? And does it match your own calculation of how it's put together?

The Long, Twisted History of Your Credit Score

RobertEG · ‎10-03-2010

Util of revolving credit is NOT based only on overall % util, High util on one card can be significant.

Util of revolving credit is based, in a first cut, on 50% based on overall % util,. and the remaining 50% based on an assessment of your combined util of eacxh indiv account. This is taken, not from my opinion, but rather from statements to this affect made by Fair Isaac.

Individ card util is evaluated from the individual % util of each card, combined with the number/% of cards showing a repirted balance.

Having one card wtith very high util WILL have a significant impact on your score. Not nearly as much as overall % util, but nonetheless, not insignificant.

FICO is a risk of defalt analysis. If it sees an account with maxed out use, its risk increases.