question on credit score

[pilgrim]

Hi. I have stellar credit---range I think 780-800 when I recently was checked for a mortgage refi. The only "concern" that came up on that credit check was fairly high balances on my ccards (which I always pay in full). Seems odd given my income is pretty high. One thing I do though is to put customer expenses on my personal card. I pay them and then my company reimburses me. I get the air miles that way. However, obviously my spending is actually LESS than what it looks like on my card since some of that is client entertainment. Maybe the benefit of getting air miles is overwhelmed by my spending looking higher than it really is? thoughts?

[behing01]

If your credit score is consistently over 750 i would stop worrying about it and just do what you are doing.

[snshijuptr]

I wouldn't worry about it at all. The utilization is calculated as (sum of balances at statement) / (total credit available). FICO wants this number to be below 10%. So if you charge and pay off $1000 a month, but you only have a $5000 credit limit, your utilization is 20%. If you really care, then you can increase your credit limits but keep your spending steady. Truly if you have over 750, there is nothing to worry about.

[littleroc02us]

Why not just spend like $100 on your credit card and forget the airline miles part. Just play their stupid game.

[pilgrim]

yeah, I hear you. I just like the convenience of putting client entertainment on my card and the miles are just an extra nice thing. so, $100 is impossible unless I rotate cards monthly. I'll just not worrry about it. thanks

[moneyunderyourfuton]

I wouldn't worry about it either, but if you are concerned, you could raise your credit limit by asking your credit card company for a credit increase or for applying for another credit card. In the latter scenario, you could get a credit card with no annual fee that you use only occasionally (to keep them from closing your account) or even see if there's another version of your airline card that you could also get (e.g. visa vs mastercard).

[JoshuaHeckathorn]

Credit scores don't care about your income level. But like snshijuptr mentioned, your FICO score will be the happiest when your credit utilization ratio is under 10 percent. Since you already have good credit, you may want to just get an extra card that you only use for customer expenses. It'll make things easier to track anyway, the utilization on your personal credit card will be better, and you shouldn't run into any further utilization issues. Good luck!

[Ashleywatson]

I do not think Credit scores don't care about your income level But it effects your credit history, it might create you problem. but Fast loans does not care for the credit history check.