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CC spreadsheet for Open Office

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Great spreadsheet! Thanks!!! This may be a stupid question but what is the Preferred UT 25%???

 

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Great spreadsheet! Thanks!!! This may be a stupid question but what is the Preferred UT 25%???

 

Sent from my SM-G935T using Tapatalk

"Preferred UT 25%" = Preferred Credit Line Utilization of 25%

(example: If your Credit Limit on one of your Credit Cards is 100.00 and you want maintain a balance of no more than 25%

( i.e. You Prefer to keep your Credit "Utilization" at no more than 25%) or less then that is an example of your "Preferred UT %"

 

On the spreadsheet, you can set it to whatever % you want it based on your needs

& how much of a Positive Impact you'd like to

have on your Credit Score in the short-term:

25% UT for some Positive Impact, on your score.

20% UT for a slightly more Positive Impact on your score.

15% UT for a significantly more Positive Impact on your score.

10% UT for a very Positive Impact on your score.

5% UT for a very very Positive Impact on your score.

 

And regardless of your Credit Limit on each of your Credit Cards,

I've heard that you can have the absolute Greatest Impact on your Score over the Short Term

by getting your Statement Balance down to $3.00 if its a Discover Credit Card

and $2.00 on all other major Credit Cards (Visa, MasterCard, American Express)

Based on the number in your preferred UT, the spread sheet will calculate the exact payment you need to make

so that your "Preferred UT XX%" is maintained on each of your credit cards/ credit lines.

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Great spreadsheet! Thanks!!! This may be a stupid question but what is the Preferred UT 25%???

 

Sent from my SM-G935T using Tapatalk

"Preferred UT 25%" = Preferred Credit Line Utilization of 25%

(example: If your Credit Limit on one of your Credit Cards is 100.00 and you want maintain a balance of no more than 25%

( i.e. You Prefer to keep your Credit "Utilization" at no more than 25%) or less then that is an example of your "Preferred UT %"

 

On the spreadsheet, you can set it to whatever % you want it based on your needs

& how much of a Positive Impact you'd like to

have on your Credit Score in the short-term:

25% UT for some Positive Impact, on your score.

20% UT for a slightly more Positive Impact on your score.

15% UT for a significantly more Positive Impact on your score.

10% UT for a very Positive Impact on your score.

5% UT for a very very Positive Impact on your score.

 

And regardless of your Credit Limit on each of your Credit Cards,

I've heard that you can have the absolute Greatest Impact on your Score over the Short Term

by getting your Statement Balance down to $3.00 if its a Discover Credit Card

and $2.00 on all other major Credit Cards (Visa, MasterCard, American Express)

Based on the number in your preferred UT, the spread sheet will calculate the exact payment you need to make

so that your "Preferred UT XX%" is maintained on each of your credit cards/ credit lines.

Thank you so much. So $2 is better than 0% utilization?

 

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Thank you so much. So $2 is better than 0% utilization?

 

Sent from my SM-G935T using Tapatalk

 

 

 

Yes - -but only in a specific scenario. Take a clean report with a zero dollar balance on ALL accounts, and check the FICO's. Now let *ONE* account report a very small balance, and you'll see a FICO increase of a few points. Some accounts won't report a balance of a dollar or less, so $2 is generally considered the lowest balance that will reliably report.

 

Consider this an advanced technique for getting the absolute maximum FICO score from a clean report (and keep in mind we're only talking a few points). If you have multiple accounts reporting a balance, this will do nothing for you.

 

ETA - On the "Preferred UT %" column - If your objective is to maximize your FICO scores, only let one account report less than 5% utilization (but more than $2). But if you're going to carry more than that minimum balance on one or more accounts, the "Preferred UT %" column calculates the maximum balance for each account, at a user-defined utilization level. The key thing here is that you are defining what that utilization level is - "Preferred" means your personal preference - not FICO's.

 

e.g. Say you want to make use of a Balance Transfer offer, but you want to stay below 25% utilization, because single-account utilization of 25% or more is a significant FICO trigger. Set the "Preferred UT %" to 25, and the column will display what your maximum balance would be.

Edited by JeffeVerde

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On 9/3/2008 at 10:47 AM, Promethyl said:

This is only useful if you carry a balance on your credit cards. :angry:

I can sing my balances a song:

Na na na na

Na na na na

Hey hey hey

Good-bye

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On 8/24/2008 at 5:11 PM, breeze said:

fixed up to work with OO courtesy of taylortr.

CCCS2008.ods

That leads to a breeze question :D

 

 

Sorry, there is a problem

This attachment is not available. It may have been removed or the person who shared it may not have permission to share it to this location.

Error code: 2C171/1

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Pam question. :lol: It may not have finished finding stuff, or it may have lost it. I dunno.

The XL file will usually open in OO, if the XL file is available.

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The downloadable link is in the first post and is still available for download.  It is an OO file, but will open in xlsx format also.

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On 4/7/2019 at 11:51 AM, MarvBear said:

The downloadable link is in the first post and is still available for download.  It is an OO file, but will open in xlsx format also.

I can still go to the first post and download it in OO format.  I literally just tried and saved it.  It works.  If you want the excel version go 

I just checked it and that link is also working.

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It's not working for me in FF or Chrome. Maybe I have a permissions issue because my account hasn't been used in years? (Trying the xls link)

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On 3/5/2017 at 11:46 AM, JeffeVerde said:

ETA - On the "Preferred UT %" column - If your objective is to maximize your FICO scores, only let one account report less than 5% utilization (but more than $2).

Hello, Is there a spreadsheet that explains how to maximize score? I remember something along those lines from years ago. Link if possible, please? 😀

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Both the Open Office and the Excel version are downloadable and are functional.   Google docs will auto convert an Excel file to its own format.  We haven't placed any restrictions on the availability of the file(s).  You may have a problem with your browser or operating system setting.  

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Try this link for the Open Office file.  It's being shared from my personal sources and I probably will not leave it up long.

 

https://drive.google.com/file/d/1tB_r8fIXwykodBBGAD5eoa6Ul16YmM4y/view?usp=sharing

 

Try this link for the Excel file, likewise shared from my personal sources and I probably will no leave it up long.

 

https://drive.google.com/file/d/1FYEtiCa6M93kY6-TBWvlznwY83MX-rhY/view?usp=sharing

 

Let me know if you can't download this way, please.

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