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Was looking at my online EX report today.
Account Type, Date Opened, Account Status, Payment Status ... yadda, yadda ... Usage ... yadda, yadda. Hmmm. Never noticed Usage before.
For 10 of my 12 CC's, the usage value is NoCredit. Not coincidentally, those ten cards last reported a zero balance.
For the 2 other cards, one had a utilization of ~12% (1.8K/14.7K). The other had a util of 2% (600/30K). Each had a usage value of 'Fair'.
And the mortgage and HELoan don't specify a value -- it's a dash.
A picture is coming into focus.
Anyone know what the other Usage values are? And is Usage any more than a text descriptor of reported utilization ranges?
EQ | 841 | 5 INQ (Auto, CC, HELOC, 2 mort) | 7y2m |
EX | 812 | 5 INQ (2 CC, 2 mort, HELoan) | 6y11m |
TU | 829 | 4 INQ (3 CC, 1 mort) | 6y6m |
5/24 | 3/12 | AoYA 0m | AoOA 23y6m | ~3% |
Usage is more like overall use or at least that is how it shows on mine so it will say Overall Credit, CC Debt and The Usage %......is that what you are referencing to?!
Ideal 'usage' is 6% or less according to them so if you are under that then you are in a Green Spot sitting pretty lol
@thornback wrote:
There was a thread about this some months ago regarding the addition of "usage" to Experian reports. It came out of nowhere really. Didn't realize EQ was now doing the same. The indicators, applied to each individual revolver, include 'no credit', 'fair', 'medium', and 'high' based on its balance/limit utilization at any given time.
My assumption is that this is simply a means of expressing util in words instead of numbers (perhaps for the sake of clarity - like layman's terms). It doesn't seem to have any additional effects on scoring.
My bad -- meant to write 'EX', not 'EQ'. Corrected.
And thanks for the explanation.
EQ | 841 | 5 INQ (Auto, CC, HELOC, 2 mort) | 7y2m |
EX | 812 | 5 INQ (2 CC, 2 mort, HELoan) | 6y11m |
TU | 829 | 4 INQ (3 CC, 1 mort) | 6y6m |
5/24 | 3/12 | AoYA 0m | AoOA 23y6m | ~3% |
@Girlzilla88 wrote:Ideal 'usage' is 6% or less according to them so if you are under that then you are in a Green Spot sitting pretty lol
Wouldn't that be utilization , not usage? There shouldn't be a cap or a certain "usage" amount that a person shouks stay at. As in my mind, usage is an amount ran through the card each statement period.