@Anonymous wrote:Greetings.
First post here. I have been reading a lot on this forum which has helped me greatly in my quest to improve. I first want to that all the contributors to this forum for all the great information and helping me raise my score over 100 pts.
I recently got a new Chase Freedom and a AMEX BCP after only having one card for several years. I have been using both cards for purchases while renovating my house. Chase just reported I am using 44% of my CL (I will pay in full when statement is due) which made my credit score take a huge hit (I am currently at 33% total utilization). EX dropped 66 points and TU dropped 51. My question is, will this be a normal occurance each month if I run this much through or will this bounce back after I establish typical use on my card?
Thanks in advance.
Any changes caused by changes in utilization will be reversed when the utilization changes back.
But I am skeptical that so large a score change was caused by that utilization change alone.
Also bear in mind that paying in full after the statement cut has no effect on your utilization; utilization for the FICO scores is almost invariably based on the statement balance.
