Ball park credit score for credit card acceptance?

[Deleted User]

No need to Google and I do know thanks

So please cease and desist.

Willing2Learn

Sorry beany_bot, but Gary is correct.

System

!!! wrote: »

No need to Google and I do know thanks

So please cease and desist.

I will not cease telling the truth. I asked him again and just got a text back from my friend who works for a lender (and I quote):

"Yeah we do look at overall utilisation, obviously if you carry a balance and "owe" it's more impactful, but the algorithm does look at statement amounts vs available credit regardless of if it's cleared every month or not. it's not a big decision factor but it is there in the machine."

So stop telling fibs. Just like saying £15k is a "low limit".

System

Willing2Learn wrote: »

Sorry beany_bot, but Gary is correct.

Apart from that he's not. Every website says otherwise and my friend who is directly involved in lending says otherwise too.

[Deleted User]

I am correct.
“Every website” just spews the CRA marketing and “score improvement” BS.

And I know several teams of multiple people from different organisations who beg to differ rather than one sole person who works are a lender.

Your “friends” post even reiterates the fact that statement amounts etc. are looked at.

Thus cancelling out the apparent “utilisation”.

[Deleted User]

Yup - then the following month (and as with previous months) it will be paid off in full thus negating any utilisation.

System

!!! wrote: »

Yup - then the following month (and as with previous months) it will be paid off in full thus negating any utilisation.

No.
I'm not talking about ongoing utilisation. I'm talking about utilisation in any given month. in March, my utilisation was "x", in April it was different, it was "y".
But even if it was zero in April and May. That doesn't mean March didn't happen! in March my utilisation was higher. And its these figures that is seen and noted by (certainly some) lenders. You are aware that lender looks back over your credit HISTORY, not just what your balance is this very month?

Again, a simple google search confirms this but you can just waft that away and disregard it if you want.

It really worries me that people will stumble across this post and think their credit utilisation doesn't matter because of what you are peddling. To those people I emplore you - Google and do your own research!

[Deleted User]

beany_bot wrote: »

but you can just waft that away and disregard it if you want.

Indeed I shall, since I already know (and posted) the correct answer

gionnetto

beany_bot wrote: »

No.
I'm not talking about ongoing utilisation. I'm talking about utilisation in any given month. in March, my utilisation was "x", in April it was different, it was "y".

On top of it, low utilization (below 20-30% - different lenders have different brakets) classes you as low risk.

TheBoobie1987

Thanks for answering my initial question, can't tell what advice to take but I guess I'll just see when I start getting the eligibility for cards instead of focusing on it too much. Try to not argue guys, it really isn't worth getting salty over!