Credit Utilization

[jeduhi]

I've looked on here a few times for answers to my following question with no success...However I'm sure it's on here so my apologies. What are the penalties for each tier of credit untilization.

Example:
How much point hit can you expect from > 100%
75%
50%

or at what tiers does you utilization effect your FICO score?

[llecs]

I don't know if there are necessarily tiers, but I do know generally you should get all of your individual utilizations below 10% and have at least half of your CCs report $0.

For myself, I noticed that for every 10% of overall utilization I lower, my FICO score goes up 10 points. So, if I lower util from 80% to 0%, I'll generally expect 80 points. All this assumes your mix of credit is OK and that you have no COs impacting your util.

[jeduhi]

When checking my TU report, I only have one credit card which was over the limit. It was 141% util, paid it down to 85% util the goal is to pay it down to $0 within the next two months. However I'm trying to raise my credit score so I can get a good mix of credit cards started, and obviously can't do that with the scores listed below.

[llecs]

Yep, you'll get dinged extra point by going over 99%.