3 Thoughts on 35% of available credit on cc for FICA – How to calculate?
  1. Reply
    Let me steer you
    June 25, 2011 at 4:40 am

    FICA is the acronym for the Federal Insurance Contributions Act. This act mandates that an employer withhold a set percentage of an employee’s salary each pay period. FICA also requires that the employer match the employee’s amount and contribute the money to a government account known as the Social Security Trust Fund.

    What does FICA have to do with your credit card balances?

  2. Reply
    June 25, 2011 at 5:04 am

    It’s FICO score, not FICA.

    Carrying balances of more than 30% of your limit hurts your score. Pay off the credit cards and your score will rebound. Best way to handle credit cards is to pay the balance in full every month. That will build good payment history and save interest. There is no advantage to carrying balances.

    Utilization percentage does play a part in your score. However, it is not worth the effort to figure out exactly when the creditor updates to the credit bureaus and then schedule charges and payments to get the best utilization for the best score. By the way, the utilization percentage is higher than 35%. Just use the card and pay the balance in full.

  3. Reply
    Loretta Douglas
    June 25, 2011 at 5:37 am


    There are many web-sites , that offer credit report, but I would suggest you http://GoCreditReport.info , because they offer this service free (no catches) .They are one of the best web-sites .They also offer credit monitoring, id theft alert, and many more things…

    Just Visit the link and sign up .

    hope that helps

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