I'm trying to repair but also understand how credit ratings work, so I have two main questions about utilization:
1) Is utilization your current debt/total credit, or is it card by card? So let's say you have 4 cards with a $2500 limit each (I have nowhere near this - it's just an example). That's $10,000 total. Let's say you have like a $50 balance on 3 of the cards and $2400 on 1 of the cards. Total utilization is about 25%. But on a card by card basis, that 4th card is 96% utilized. Does this affect your FICO differently than if I had, say, a $650 balance on each of the 4 cards?
2) How is it reported? Snapshot at some point in the month, or do they report your highest utilization within a month? Let's say you have a card with a $1000 limit (or $1000 total credit depending on your answer to the above question). Let's say you charge $900 for a plane ticket and hotel reservation. The amounts clear within a couple of days and you immediately pay it off in full. How does your CC company report your utilization?