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Uplinksc

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21 People Helped
High utilization on one card vs medium utilization on all. Is utilization exponential?
I have been searching and see that higher utilization is worse, but how is it to have 30% utilization on all other cards and 90% on just one compared to staying around 50% on all cards? The total utilization will remain the same either way, but does having all at 50% help my score compared having that one at 90%? Does the higher it gets impact my score exponentially? But would that be made up by the 30% accounts combating and increasing my score what the 90% is dropping it, or would those not make a big enough difference compared to the 90%.

For a while I got my FICO score from 609 to 680 in 3 months just by paying off balances that I could at the time. Since, it has been dropping and is back around low 600, high 500 range with 75% total utilization. I am trying to raise my credit score up as quickly as I can, but I don't know which cards to start with first to pay off. and which is more beneficial to my score. I don't care about interest rates, they are all about the same on all my accounts at 22-26% and would rather increase my credit score than worry about the interest at the moment.

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Top Contributor
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I cannot say for sure, but I am pretty sure that the utilization rate is figured per card by the bureaus. I don't think things are going to cancel each other out, I could be wrong though. I would work at getting the 90% down to 60 or 70, then attack the 50% ones and get them down to 30% then jump back and get the 60 or 70 down to 30. Honestly I really have no idea if this is a good plan, but it sounds right in my head.

Top Contributor
5038 Contributions
1136 People Helped

The more I thought about this, maybe I was incorrect on what I said, so I will hope someone else that knows for sure will come along to help you. I was thinking that each account you have was graded individually, but now I am thinking maybe your utilization rate is scored as a whole, maybe it is scored both ways. I still think in either case my plan earlier doesn't sound bad.

9 Contributions
1 Person Helped

Utilization

For some reason CK says pay on higher utilized card, to me that makes no sense when they show it's debt ÷ total credit therefore it is a total not a specific card.

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