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Utilization and Credit Line increases vs Credit Scores

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ACL42st
Established Member

Utilization and Credit Line increases vs Credit Scores

Basic simple question that I hope someone will help me understand. Let's say you have $30,000 available credit to you per your CB reports. Your utilization is 50% let's say which is to  high I know.  I have maybe 6 cards I have never charged a penny on which I know I better or the accounts could be closed. I was able to increase those cards that I have never used by a $10,000 credit line increase. Only 2 of the increases actually reported the increases I suspect due to the fact I had once used those cards before but they do have zero balances. The other cards did not show the increases and I suspect because the cards had never been used Is that correct thinking? They show only the original opening line of credit granted. So is the only way those cards will report is if I make a small purchase and hopefully they report the use of card and the new credit line which in return increases my my total available credit and also reduces the overall utilization due to the increases. Of course the purchases I would make would be very small and paid off immediately. Am I right on how this works?  Am  I right in thinking  that those increases...that is if they are reported will help my  utilization and scores?? Thanks to anyone willing to answer my question. And these are not actual figures....and yes I am working on paying down my actual credit cards. Thanks. 

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NRB525
Super Contributor

Re: Utilization and Credit Line increases vs Credit Scores

I don't know for certain, but your scenario seems like it could be a reason. The reporting to the credit bureau may not be updating yet, though it depends on how long it has been since the CLI. If 3 months or more, then your scenario is most likely, if a shorter time, it just may be the slow movement of some CCC.

 

Use of the cards for small purchases is an important step you want to take. With the high utilization on several cards, you need to do what you can to maintain, keep open, the other cards so that your total utilization remains as low as possible. If the cards you aren't using get closed for non-use, then you are moving backward in your journey.

 

You do plan to use those not-used cards in the next week, right? And PIF just means, pay based on the statement amount, that full amount by the statement due date.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
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