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Edited to add some info that I didn't cut and past properly.
CC UTIL should be below 10% for best scores....FICO also likes CC UTIL under 10% and some CCs wil Bal $0
krystofur wrote:
I wanted to check this out anyway since all my accounts have updated now, and since FICO was so generous with the active forum member discount (Orman for $12.49!) I guess the time is right. I'll put this here since the drops are mainly the result of my credit card usage.8/10/07: TU 771 EQ 793 EX 8095/30/08: TU 714 EQ 735 EX 749Drop: TU 057 EQ 058Major changes include:1. Going from 8% overall Utility to 23%.2. Two CC's now have 97% individual Utility (0% for 12 months)3. I now have 9 accounts with balances compared to 4 previously.4. I have three recent inquirys on TU, one each on EQ and EX.5. I have three new CC's and one new HELOC (reports as mortgage thankfully).6. Oldest acount is 16 years 7 months, average age is still 5 years, but the new accounts hurt.
Don't I know it, but I need to take advantage of the 0% for 12 months while I pay down the HELOC. Then I'll use the HELOC to pay off the CC's, and hopefully our tax return will pay off the HELOC.
HappyDays wrote:CC UTIL should be below 10% for best scores....FICO also likes CC UTIL under 10% and some CCs wil Bal $0
At least you have a plan!!!
krystofur wrote:Don't I know it, but I need to take advantage of the 0% for 12 months while I pay down the HELOC. Then I'll use the HELOC to pay off the CC's, and hopefully our tax return will pay off the HELOC.
HappyDays wrote:CC UTIL should be below 10% for best scores....FICO also likes CC UTIL under 10% and some CCs wil Bal $0
haulingthescoreup wrote:
Newest danger factor for credit scores: a new baby!
But you know, your scores are a support for the argument that it's worth pushing to get scores beyond 760. A lot of people say that anything beyond 760 is just ego or something, but I disagree. You had a nice cushion there that came in handy.
How's life with the tiny terror? Isn't baby-proofing fun?
edited because I can't read properly this morning...
Message Edited by haulingthescoreup on 05-31-2008 06:57 AM