@Anonymous wrote:Hi,
So I understand the concept of credit utiization but there is just one element of it that I have not been able to find a definitive answer about. Right now I have a relatively high balance on my Chase Freedom (about 45% utilization) due to using the 0% intro APR to finance a big purchase. I realize that will ding my credit score once that overutilization is reported to the credit bureaus. What I'm curious about is at what point will my score come back up after I pay down the balance and I begin to underutilize again? For example, lets say I pay off most of the balance on June 1, am now only utilizing 5% on the card and the statement closes on June 5. Would my credit score come back immediately after the low utilization is reported or does it take a bit longer to come back up than that?
Most points are regained immediately. There could be a bucketing issue that would take a few months to resolve once the high util is paid down but that typically kicks in with heavy overall usage not 1 card at 45%
