Credit Card Utilization Report

Marcus

I would like to have a report that shows the % usage on each credit card and % of total credit usage

Coach Paco

@Marcus Great Suggestion!

Fabiana

Please

Fabiana

Please

UrsulaA

The new credit score includes a total credit utilization now. Not in each credit card yet.

UrsulaA

Credit utilization chart

RobWilk

I still might like to see this "based on simplifi balances and 'credit limits' that simplifi somehow keeps track of"..

As it stands, this credit report is updated periodically, not, for example, daily.

UrsulaA

https://community.simplifimoney.com/discussion/comment/30389#Comment_30389

Good point on the update frequency. At least having the utilization updated monthly is better than nothing.

I hope we can drill down on the credit usage tile to see details by account sometime. If so, that will fulfill this request.

Then, we will have to open another one if we want utilization measured daily using Simplifi credit card balances against credit limits (user entered or tracked by Simplifi somehow).

DannyB

@RobWilk @UrsulaA

One way to extend the credit utilization feature beyond the Credit Score section would be to add some functionality to the credit card set up by adding a "credit line" field to the account set up window when Credit Card is selected for account type. Then add a field in the credit card account register that shows the percentage of usage based on the latest balance downloaded from the bank. The utilization percentage could appear as part of the summary at the top of Credit Card account registers perhaps next to the current balance shown at the top right of the page. Another extension of this information would be to add a total credit usage percentage next to the

The question is what difference such a feature would make?

• This would help the user keep track of utilization during the month for each cc.
• This will provide information that would help the user decide how to distribute expense charges across cc accounts so as to prevent over recommended Usage ranges to maintain or improve the users credit score.
• This would help the user in timing cc payments to keep utilization within the ranges listed in the Credit Usage Rating scale.

As an example: My current overall credit usage reported by QS in the Credit Score updated on 7/24 is 12%. But as of today, 7/29 my overall credit usage is 5.8%. There is no way to have an actual up to the minute credit usage number for all the usual reasons, but a day-to-day update could be useful for anyone trying to juggle that number and keep it within a certain range.

UrsulaA

I agree with the addition of the "credit line" field to each credit card account. The credit score credit card utilization measure gets updated once a month with the aggregate of credit used/credit available for credit cards. If Simplifi can have such measure calculated using the credit lines and credit used for each credit card and show that in the dashboard or a report, it will be useful. This is a nice to have feature for me, not a priority like split transaction notes, for example.