Credit Utilization

For just about anything you want to get off your chest about credit cards.
3 posts
agp
Centurion Member
Centurion Member
 
Posts: 709
Joined: Fri Apr 20, 2012 10:24 pm
Location: US&A

Credit Utilization

Postby agp » Thu Nov 29, 2012 12:03 pm

We all know high credit utilization percentage hurts your credit score, but is credit utilization calculated per card, per bureau, or across all cards and all bureaus?

In other words, which is worse - charging $10K on one card, or charging $10K across all credit cards?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred


DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Thu Nov 29, 2012 1:26 pm

As I understand it the utilization methodology is per card as well as across all cards.

If your card does not report the high limit and will allow the charge, charging $10k wouldn't negatively impact your credit aside from the DTI ratio. It might not be wise to charge $10k on a card with a $12k limit if you expect someone to be looking at your credit report soon.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4603
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Thu Nov 29, 2012 2:43 pm

+1

Ok now that I've gone all FICO.....let's talk about the garden!



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: Yahoo [Bot] and 6 guests
†Advertiser Disclosure
The credit card offers that appear on this site are from credit card issuers from which CreditCardForum.com receives compensation. This compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories. CreditCardForum.com does not include all credit card offers that might be available to consumers in the marketplace.