@NRB525 wrote:
Congrats! That is an excellent result from all the effort to rebuild!
The 42% utilization shows you can still have an excellent score with some borrowing. And that is one purpose of getting to an excellent score.
My wife and I put almost all of our spend on a single credit card, which is in my name, she's the AU. It usually reports a balance of 10 to 20 %, which is paid in full every month. My other cards rarely show a balance. That's about 3 or 4 % of my revolving limit. Until about a year ago, I would notice big flucuations in my FICO 8 scores (I get scores from TU and EX from various credit cards, no way I am paying for them.) depending on what balance got reported. 790ish on the high end, 760 low end when their was a high balance on the main card, and more than one of my other cards reported a balance.
About a year ago (a little longer now, I think), my scores took a jump (from the 790s to the 810s). At the same time, there is very little variation in the score, it's between 810 and 816, even the month we had 32% util on the card, and one of my other cards reported a 5% balance. Nothing changed in my behavior; my overall limits went up, but not on the main card; no new accounts. Apparently, I aged on to a score card that's much less sensitve to balances.
I have a new installment loan that should report soon, I will be interested to see how that changes things.
