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jarnog

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8 People Helped
Utilization Question
I know the general rule is to keep utilization at 30% or below, and if you can 10% or below is best. I also know there is no real way to tell if what I am about to ask will happen. But here goes - I am currently at about 60% utilization between my various cards. I plan on by the end of Jan. 2014 to get it as close to 10% as possible, if not below. How much will that help my score?

Currently I am at 570 for the CK score, and I recently got approved for a Cap. 1 Quicksilver card with a 1000 limit. I have not received the card yet, so it does not show on anything. I would like to try and get better "prime" cards and eventually (hopefully within the next year) have my score high enough to try and purchase a home. I know utilization matters but how much...score wise :).

Thanks for any information provided.

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14 Contributions
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Addendum

As an addendum to my initial post, does anyone have any rough estimates on what kind of jump, if any, I could see in my credit score?  Assuming everything stays the same with on time payments, no new accounts or hits to the report etc?  I am curious.

Thanks

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