Utilization?

[Cmikul]

Is Util calculated off of just bankcards or does it take into consideration all open credit?

Just major CC?

Majors and store, jewelry, furniture cards?

All the above plus cars and mortgage?

I would assume or have always thought it's all cards....store, jewelry and furniture included.

But for instance on my UpWallet app it only shows majors....but of course I don't have others linked....duh.

I calculate it off of all and the mortgage and cars seperate.

[Anonymous]

Ultilization of individual card as well as overall of all cards are taken to consideration. Bank cards and store cards, whichever that report a credit line.

[Anonymous]

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@Cmikul wrote:

Is Util calculated off of just bankcards or does it take into consideration all open credit?

Just major CC?

Majors and store, jewelry, furniture cards?

All the above plus cars and mortgage?

I would assume or have always thought it's all cards....store, jewelry and furniture included.

But for instance on my UpWallet app it only shows majors....but of course I don't have others linked....duh.

I calculate it off of all and the mortgage and cars seperate.

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It calculated off of all credit card accounts, both store and major credit cards.  Auto and mortgage are not included nor any kind of installment loan 

[Cmikul]

ok, then second question.....

I have a Jared's acct that acts like an installment.

Any purchase gets a fixed payment that does not vary till paid in full.

Does that count as installment or revolving against my util.

It's actually a very odd acct.  my limit is $7600 but on my CR it shows $10005 as that's the highest ever amount due.

I have NO idea how any of that util calculates.

[Anonymous]

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@Cmikul wrote:

ok, then second question.....

I have a Jared's acct that acts like an installment.

Any purchase gets a fixed payment that does not vary till paid in full.

Does that count as installment or revolving against my util.

It's actually a very odd acct.  my limit is $7600 but on my CR it shows $10005 as that's the highest ever amount due.

I have NO idea how any of that util calculates.

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You need to look at a credit report and it will show how it reports

[takeshi74]

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@Cmikul wrote:

Is Util calculated off of just bankcards or does it take into consideration all open credit?

Just major CC?

Majors and store, jewelry, furniture cards?

All the above plus cars and mortgage? 

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Revolving utilization (people leave off the word "revolving" in many cases) includes all revolving accounts: credit cards, store cards, lines of credit, etc.

Auto loans and mortgages are not revolving accounts.  They are installments.

While revolving utilization falls under Amounts Owed it is not the only thing that does.  Installments are considered as well though installment debt doesn't have quite the same impact as revolving debt.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

[StartingOver10]

The Jared's account is a revolving account. Even though you may take advantage of their zero interest promo type purchase with a flat amount due each month, it is still a revolving account and included in the revolving utility calculations. 

[Thomas_Thumb]

My AMEX charge card is lumped in with revolving credit cards for aggregate charges used to calculate overall UT%. Also, although it is a NPSL card, total credit limit for all cards includes the AMEX "high limit" value in the total.

Fico model UT% is specifically card related both on a per card basis and all cards combined. If charge cards have a CL, that is included on total credit limit. If not (like my AMEX) high limit is used. Some credit cards may be NPSL - not sure if those are ignored in the calculation or added based on high limit.

My credit report does include a couple other metrics as follows:

1) Balance to loan ratio for installment loans (I only have a mortgage but, overall balance to total loan it a metric in scoring)

2) Aggregate debt to credit ratio. This is (total of CC balances + loan balances)/(total CC credit limits + total of installment loan amounts)

[Cmikul]

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@Thomas_Thumb wrote:

2) Aggregate debt to credit ratio. This is (total of CC balances + loan balances)/(total CC credit limits + total of installment loan amounts)

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I think this is what's holding me back.  I have the mortgage and the cars in my name...along with 99% of all the card spend going thru me.

My DW has the make up she bought last week on hers.

[Revelate]

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@Thomas_Thumb wrote:

My AMEX charge card is lumped in with revolving credit cards for aggregate charges used to calculate overall UT%. Also, although it is a NPSL card, total credit limit for all cards includes the AMEX "high limit" value in the total.

Fico model UT% is specifically card related both on a per card basis and all cards combined. If charge cards have a CL, that is included on total credit limit. If not (like my AMEX) high limit is used. Some credit cards may be NPSL - not sure if those are ignored in the calculation or added based on high limit.

My credit report does include a couple other metrics as follows:

1) Balance to loan ratio for installment loans (I only have a mortgage but, overall balance to total loan it a metric in scoring)

2) Aggregate debt to credit ratio. This is (total of CC balances + loan balances)/(total CC credit limits + total of installment loan amounts)

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Um, we've seen absolutely zero support for that .

1) Where did you get the credit report

2) How are you certain it's calculating as you say?

Fact is the presentation on a credit report is not reference for the FICO algorithm, unfortunately.  The only thing that is applicable is the "reasons your score ain't higher" part, everything else is 3rd party presentation fluff.

Revolving and installment utilization are utterly seperate in the FICO models; if they weren't if nothing else I wouldn't have taken such a large hit on my mortgage reporting since my revolving limits would've easily gotten me under the 80% (or 70%) line if it was a summation across everything... but it isn't.  Tons of other anecdotal evidence to support that posted every week regarding people's score drops refinancing cars and similar.