@bloccoblu wrote:Sorry if this is the wrong category for this question....is there a formula for determining how high my utilization can be before losing points? my overall utilization now is 9%. When i crossed from 6% to 9% i lost 6 points..not really wanting to do that again but wasnt sure if the range for the loss i already experienced is 9% to some other number. Not looking to finance anything major in the near future just want to optimize whenever possible. Any information you can provide would be greatly appreciated.
my balances now are:
amex 6% 976/15000
boa 1% 283/16500
citi 9% 656/7000
discover 13% 2084/15500
navy 12% 3131/25000
navy 0% 0/1000
merrick less than 1% 6/1200
fingerhut 0% 0/700
If you go higher you will lose more points. If you go lower you'll regain points.
That's as much certainty as I can give you.
@bloccoblu wrote:I see. I’ve seen the terms like scorecard, aggregates, and averages throughout the forum so I thought perhaps there was a percentage that I shouldn’t exceed. Thanks
Yes there is much talk about that, but little evidence. And little certainty as to where the supposed thresholds lie.
In my case my scores are highest when my aggregate revolving utilization is at around 2% or less, and get progressively worse as the percentage increases.
With individual account utilization I can say confidently that going over 29% loses points, but with aggregate utilization I can only say that I am in good shape only when I'm at 6% or lower.
The convential crowd-based wisdom in this forum is that 9% is a major threshold in aggregate utilization, but I personally haven't found it to be any more major than 8% or 10% or 11%.
@Anonymous wrote:
@bloccoblu wrote:No it’s a credit card. I’m trying to figure out how much of 0% interest balance I could add with promo without adversely affecting my score. Thanks for your help.
Using the standard 'less than 30%' guide, you could go up to $23,751 aggregate.
But there's no guarantee you won't start losing points before that. I would expect it to be less with more total length of credit history.
With 30% aggregate utilization my score would probably be down around 70 points or so, so I would not consider that "standard".
@SouthJamaica wrote:With 30% aggregate utilization my score would probably be down around 70 points or so, so I would not consider that "standard".
How can that be possible?! What other penalties are you receiving? With aggregate utilization in the 80s and 90s, my scores were right around your EQ score. I cannot possibly see dropping from 712 to 642 for simply hitting 30% utilization.
