Chase Reporting Date

[menachem_m]

CMIIW, its every card to itself, so none of the above.

[george]

Question about reporting utilization:

How exactly is this done - is it the avg of utilization per card or per overall credit?

Meaning:

Card 1 - $1k/$10k usage = 10% utilization
Card 2 - $900/$1k usage = 90% utilization

Does Chase/Amex:
1) add the utilization percentages and then average per card (here, it would be 90%+10%/2 = 50% utilization) OR
2) do the CC companies add total credit used/CL (here, $1.9k/$11k = 17% utilization)?

TIA!

There's two components to utilization: the first part is what you wrote as #2. The second part is individual account utilization. So in the scenario you described, your overall utilization would be 17% but you also have a card with 90%. Both of those facts are factored into your score.

[menachem_m]

There's two components to utilization: the first part is what you wrote as #2. The second part is individual account utilization. So in the scenario you described, your overall utilization would be 17% but you also have a card with 90%. Both of those facts are factored into your score.

He is asking how its REPORTED, not what effect it has.

[LA2NYC]

There's two components to utilization: the first part is what you wrote as #2. The second part is individual account utilization. So in the scenario you described, your overall utilization would be 17% but you also have a card with 90%. Both of those facts are factored into your score.

He is asking how its REPORTED, not what effect it has.

Isn't how it's reported basically determine how it affects your score? Is there a difference between what's reported and how it affects score?

IIUC what's been said, it's important to manage each card's utilization % regardless of how much overall credit you have with that same company.  For example, if $10K overall credit with Chase, $400 spent on a $500 CL card will still have a negative effect.  Is this correct?

TIA!

[menachem_m]

Chase only reports hard facts. Different bureaus will use their own methods to decide how it effects your score.
But yes, what Chase submits basically determines your score.

[LA2NYC]

That being said - do we know how the utilization info from each CC company is used as a factor in your credit score for each credit bureau?

[Shmulyg]

That being said - do we know how the utilization info from each CC company is used as a factor in your credit score for each credit bureau?

There's two components to utilization: the first part is what you wrote as #2. The second part is individual account utilization. So in the scenario you described, your overall utilization would be 17% but you also have a card with 90%. Both of those facts are factored into your score.

[LA2NYC]

Right, so do we know how those factors make up the 30% of you credit score which is based on utilization?

Also, is there a target utilization number which shouldn't be gone over?

[Shmulyg]

Right, so do we know how those factors make up the 30% of you credit score which is based on utilization?

That's a FICO trade secret.

Also, is there a target utilization number which shouldn't be gone over?

Rule of thumb: Try to stay under 10%, never go over 30%.

[CountValentine]

Rule of thumb: Try to stay under 10%, never go over 30%.

I guess your not using my thumb.

[Shmulyg]

I guess your not using my thumb.

Why, what does your thumb tell you?

[CountValentine]

Why, what does your thumb tell you?

I have no problem maxing out CL’s. Offer me 0% (low or no fee) and I will max it out.

[Shmulyg]

I have no problem maxing out CL’s. Offer me 0% (low or no fee) and I will max it out.

With that being your sole card???

[CountValentine]

With that being your sole card???

If you are asking would I do it if I only had one card then the answer would be no.

[Shmulyg]

If you are asking would I do it if I only had one card then the answer would be no.

I was referring to overall utilization (i.e. "if that were your sole card"). Regarding individual card utilization, i too go over - sometimes way over - 30%.