Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » More General Categories » Education/Career/Finance » How much available credit do you need?
  1. Results 1 to 7 of 7
  2. Page 1 of 1

Thread: How much available credit do you need?

post 1679887673 03-30-2023, 01:54 PM
-
#1
  1. Archaic2021
  2. Registered User
  1. Archaic2021
  2. Registered User
  3. Join Date: Feb 2009
  4. Location: Alabama, United States
  5. Age: 38
  6. Posts: 4,218
  7. Rep Power: 18045

How much available credit do you need?

I'm trying to get my mortgage score into the mid 700s

Is having too much availabe credit bad or is it about utilization.
"Equality is a False God"
"Comparison is the thief of joy."
post 1679939773 03-31-2023, 10:00 AM
-
#2
  1. bsmit107
  2. Living in 3024
  1. bsmit107
  2. Living in 3024
  3. Join Date: May 2010
  4. Location: Georgia, United States
  5. Posts: 21,085
  6. Rep Power: 189967
It's your balance in relation to your credit limit......from what i've heard if your balance is higher than 1/3 of your available credit it's hurting you.

But also, not having enough revolving credit (having a balance, then paying it down) isn't helping you either. If you just have available credit, but never use it or have nothing that you're paying, your credit can decrease.
post 1684335333 06-09-2023, 11:14 PM
-
#3
  1. taperedtam
  2. Registered User
  1. taperedtam
  2. Registered User
  3. Join Date: Jun 2023
  4. Age: 56
  5. Posts: 117
  6. Rep Power: 579
Originally Posted By Archaic2021⏩
I'm trying to get my mortgage score into the mid 700s

Is having too much availabe credit bad or is it about utilization.
you want to try to keep utilization low. keeping it low shows that you dont just try to borrow as much money as you can; at a low utilization, it shows that you have the availability to take out a lot of money, but you choose not to.
post 1684348343 06-10-2023, 08:00 AM
-
#4
  1. nutsy54
  2. Random Words
  1. nutsy54
  2. Random Words
  3. Join Date: Apr 2003
  4. Location: United States
  5. Posts: 126,581
  6. Rep Power: 181292
No credit score is the best credit score. $0 available credit.
(Then manual underwriting for the mortgage).
post 1684348683 06-10-2023, 08:08 AM
-
#5
  1. tripod29
  1. tripod29
  3. Join Date: Oct 2017
  4. Posts: 26,104
  5. Rep Power: 452369
lol hard at debtcels. Couldn't imagine living like that


Inb4 muh scores
post 1684670513 06-15-2023, 11:13 AM
-
#6
  1. _zman
  2. Trancebrah
  1. _zman
  2. Trancebrah
  3. Join Date: Jan 2009
  4. Age: 41
  5. Posts: 17,156
  6. Rep Power: 93080
Originally Posted By taperedtam⏩
you want to try to keep utilization low. keeping it low shows that you dont just try to borrow as much money as you can; at a low utilization, it shows that you have the availability to take out a lot of money, but you choose not to.
This.

The number of inquiries, accounts, account history, available credit, credit used, all impact score. But paying 100% on time is one of the biggest contributors to score. My score is a few points from being maxed out, if you have any questions.
★★★ A State of Trance Crew ★★★
♞♞♞ Misc Horse Head Crew ♞♞♞
post 1684674073 06-15-2023, 12:10 PM
-
#7
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
Some people like to claim that having unutilized credit capacity will affect your ability to secure loans because lenders will consider your credit capacity as fully maxxed when determining whether to hand out money, but I don't think that's accurate at all.
Quick Navigation Top Misc
« Previous Thread | Next Thread »
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts