Credit Scores Monthly Increases

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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dfm990
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Credit Scores Monthly Increases

Postby dfm990 » Thu Jun 23, 2011 10:49 pm

Ok some here comes another strange question like i usually ask. I already know that ideally a 10% CU (credit utilization) is what your supposed to have. But my question is if you have certain score, you then bring your CU down to, lets say, 6% and this boosts up your CS a couple points for that month. If next month due expenditures your CU goes up to 10%-11% would your CS go down due to an increase in your CU or go up considering its still a very low CU.
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Meltdownblitz
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Postby Meltdownblitz » Fri Jun 24, 2011 8:31 am

I'm not positive but I'd say it would go down because ideally you'd want to have the lowest CU (better yet none at all). And actually I thought you didn't want to exceed 25-30%, not 10% but as I said, the lower the better. I'm sure some of these other guys can answer your question better, I just thought I'd take a shot.

dfm990
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Postby dfm990 » Mon Jun 27, 2011 4:35 pm

Yea im still wondering, i hope it doesn't go down... that would mean id always have to have the same CU, because at about 6% its hard to keep going down in percentage, unless my credit limits go up.
Amex Gold NPSL (35000 Approved)(11/13)
Discover It $22500 (12/13)
Bank of America Cash Rewards $7000 (3/13)
Amex BCP $6000 (12/14)
Walmart Store Card $3050 (2/10)
Capital One Platinum $2000 (3/11)
Chase Slate $1000 (1/16)

Capital
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Postby Capital » Thu Jun 30, 2011 1:13 pm

dfm990 wrote:Ok some here comes another strange question like i usually ask. I already know that ideally a 10% CU (credit utilization) is what your supposed to have. But my question is if you have certain score, you then bring your CU down to, lets say, 6% and this boosts up your CS a couple points for that month. If next month due expenditures your CU goes up to 10%-11% would your CS go down due to an increase in your CU or go up considering its still a very low CU.


I've noticed on my Credit Karma report that my CU fluxuates quite regularly between 5-10% with little change in my CS. However, this month, my credit utilization is at 35% (because I purchased a vacation package) and my CS has dropped 30 points. I would disagree with MeltdownBlitz in that ideally you want about 10% CU if you want to maintain a good CS. 30% CU is the tipping point at which your CS will begin to be significantly and negatively impacted, but 0% CU is no good either if you are trying to maintain a financial relationship with a creditor. Your CS is not likely to be significantly impacted by small variations in CU. A more interesting question might be: does maintaining a consistent spending pattern (say 10% CU every month for a year) impact your CS? Food for thought.

dfm990
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Postby dfm990 » Fri Jul 01, 2011 12:18 pm

It's funny you mentioned that capital, that's exactly what I've decided to do, I'm going to be paying off my card before they report so i can have a good CU ratio and maintain the same percentage every month
Amex Gold NPSL (35000 Approved)(11/13)
Discover It $22500 (12/13)
Bank of America Cash Rewards $7000 (3/13)
Amex BCP $6000 (12/14)
Walmart Store Card $3050 (2/10)
Capital One Platinum $2000 (3/11)
Chase Slate $1000 (1/16)



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