@haulingthescoreup wrote:
Maybe to the first, no to the second, except that Equifax also looks at total balances, so the higher total balance on the 5% of $50K might be a factor.
Let's say (1) a card has a $100 monthly balance and a $100 reported credit limit. Let's alternatively imagine (2) where the card has a $12,000 monthly balance and a $25,000 report credit limit. Which will hit hardest? 
You're more likely to be affected by how many cards are reporting balances than a small tweak in util. So 5% on $10K on two out of 8 cards will probably score better than 5% on $10K spread out over all 8 cards.
That would be $10,000 * 0.05 / 2 = $250 (util is $250 / $10,000 = 2.5%) for each of the two cards along with 6 $0 cards vs $10,000 * 0.05 / 8 = $62.50 (util is $62.50 / $10,000 = 1%) for each of the eight cards. But if the original 5% were 70%, I would likely think differently.
@Anonymous-own-fico wrote:
@haulingthescoreup wrote:
Maybe to the first, no to the second, except that Equifax also looks at total balances, so the higher total balance on the 5% of $50K might be a factor.
Let's say (1) a card has a $100 monthly balance and a $100 reported credit limit. Let's alternatively imagine (2) where the card has a $12,000 monthly balance and a $25,000 report credit limit. Which will hit hardest?
--oh, absolutely the first. 100% util will out-trump higher balance any day. I was comparing apples to apples (same util.) You're throwing oranges in there!
You're more likely to be affected by how many cards are reporting balances than a small tweak in util. So 5% on $10K on two out of 8 cards will probably score better than 5% on $10K spread out over all 8 cards.
That would be $10,000 * 0.05 / 2 = $250 (util is $250 / $10,000 = 2.5%) for each of the two cards along with 6 $0 cards vs $10,000 * 0.05 / 8 = $62.50 (util is $62.50 / $10,000 = 1%) for each of the eight cards. But if the original 5% were 70%, I would likely think differently.
--well, I was assuming 5% overall util, meaning $500 out of $10K total revolving CL. $500 on two cards hurts way less than $500 spread over 8 cards.
We seem to have different ends of the stick here! 
haulingthescoreup wrote:
Let's say (1) a card has a $100 monthly balance and a $100 reported credit limit. Let's alternatively imagine (2) where the card has a $12,000 monthly balance and a $25,000 report credit limit. Which will hit hardest?
--oh, absolutely the first. 100% util will out-trump higher balance any day. I was comparing apples to apples (same util.) You're throwing oranges in there!
Well, I know. Actually a recent Signature Visa threw that orange in my face. It reported a balance because I wanted see a normal statement with the card's first monthly balance, but forgot that I could also simply pay off most of the high balance before the end of the billing cycle.
Going for a sweet refinance was too much of a distraction, I guess. Still somehow my middle score was good enough fortunately. Locking the rate distracted me again, because not just one, but two cards will be showing balances courtesy of annual fees, did not see that coming.
My middle score might be ok even then, but it looks like closing time, which may include pulling scores again, will be well after the maxed out card's next cutoff date, allowing me to bring down its util, which requires planning because I have pumped up its present cycle to make a decent credit limit out of the high balance.
It's like burning a candle at both ends, but I think it'll be ok. I just wouldn't recommend such carelessness to anyone. Most people know to work on their scores and otherwise keep things quiet before applying for a big loan. Not impulsive me. It literally happened from one day (Is it time to borrow like crazy?) to the next (sitting in the mortgage broker's office). 
@Anonymous-own-fico wrote:I erred in calculating the util of each card, whether 2 or 8 of them with balances; one can't divide by the total credit limit there.
But my point is that if you have two cards with a high util and the rest with no balance, I'd probably spread out the balances.
Could well be, if the individual card util is high enough. I was stuck on the 5% thing. 
I do know that I lost 10-12 points on TU when I went from 1 card with a balance to 2, and that was with miniscule util on each and overall.
@Anonymous-own-fico wrote:
Well, I know. Actually a recent Signature Visa threw that orange in my face. It reported a balance because I wanted see a normal statement with the card's first monthly balance, but forgot that I could also simply pay off most of the high balance before the end of the billing cycle.
Going for a sweet refinance was too much of a distraction, I guess. Still somehow my middle score was good enough fortunately. Locking the rate distracted me again, because not just one, but two cards will be showing balances courtesy of annual fees, did not see that coming.
My middle score might be ok even then, but it looks like closing time, which may include pulling scores again, will be well after the maxed out card's next cutoff date, allowing me to bring down its util, which requires planning because I have pumped up its present cycle to make a decent credit limit out of the high balance.
It's like burning a candle at both ends, but I think it'll be ok. I just wouldn't recommend such carelessness to anyone. Most people know to work on their scores and otherwise keep things quiet before applying for a big loan. Not impulsive me. It literally happened from one day (Is it time to borrow like crazy?) to the next (sitting in the mortgage broker's office).
Hope you survived OK!
And that's a good reminder that I think you made, lol. (c'mon coffee, kick in!) Most CCC's report the highest balance that occurred within a billing cycle, not the highest statement balance, so if you have a NPSL card (World or Signature) that only reports highest balance, you can charge like a crazy person during the month and still pay it off before it reports, getting the best of both worlds, or the best compromise, anyway.
American Express is the only CCC I'm aware of that only reports highest-ever statement balance. My closed Gold card still shows a highest-ever balance of $64, and I can promise you that New Orleans put a whole lot more than $64 on that card. But I paid it off before it reported, so it never showed. Thank goodness AmEx hasn't jumped on the NPSL bandwagon.