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Credit utilization

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jbee
Regular Contributor
‎07-21-2010 08:11 AM
‎07-21-2010 08:11 AM

Credit utilization

I'm trying to bring down my utilization on a credit card, it's considered as maxed out.  Right now it's 93%.  Does anyone know the % it has to NOT be considered as mased out?

 

Also, my overall utilization is around 53%.  Am I being dinged twice (for high overall utlization and maxed out credit card)?

 

Thanks

3/1/10: TU: 615, EQ: 640, EX: ???
6/8/10 (LO pulled): TU: 704, EQ: 689, EX: 694
Goal Score by Oct. 1: TU: 750, EQ: 750, EX: 750

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chasmith
Valued Contributor
‎07-21-2010 08:46 AM
‎07-21-2010 08:46 AM

Re: Credit utilization

Yes you are being scored twice - once on overall utilization and once for an account near maximum.

 

The ideal is to have overall utilization below 10%, with no individual accounts over 9%, and balances on 1/3 of your open accounts.  Getting to the ideal may be difficult, but you want to pull down your highest utilization accounts to your average and keep pulling utilization down as you are able to.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
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