http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240592#M4165 Anyone else? Sat, 17 May 2008 17:51:59 GMT Sushi 2008-05-17T17:51:59Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240033#M4075 <div></div><div>So I have read the stickies, searched and read older threads and had some Q's.</div><div> </div><div>Currently I have 3 accounts.</div><div>1) Sallie Mae loan(never late, owe 17k)</div><div>2) Credit card 7200 with 2162 balance</div><div>3) Credit card 250 with 75 balance.</div><div> </div><div>Now does Sallie Mae count towards util?</div><div> </div><div>I read that here that the experts say keep your util @ 1-9% for good scoring, is this true?</div><div> </div><div>This month I am paying 500 to 1200 for 2162 balance and 50 towards 75 blance.</div><div> </div><div>I noticed that current Util is 30%!!! After payments this month the Util will be between 22-15(depending how much I pay).</div><div> </div><div>Does Util work on a tier system? If so what are the tiers, so I know if I should pay only 500 or dump 1200 on my credit card.</div><div> </div><div>Thanks!</div><div> </div><br><br>Message Edited by Sushi on <span class="date_text">05-16-2008</span> <span class="time_text">01:13 PM</span> Fri, 16 May 2008 20:13:39 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240033#M4075 Sushi 2008-05-16T20:13:39Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240035#M4076 <div>I assume Sallie Mae is an Installment loan??? If so utility with those types of accounts doesn't work the same as Credit Cards.</div><div> </div><div>You will see a bigger increase paying down your revolving credit card accounts then paying down installment loans.</div> Fri, 16 May 2008 20:16:11 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240035#M4076 1111mel 2008-05-16T20:16:11Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240039#M4078 <div></div><div>Yes it is an installment loan. I have it setup for auto payments, and do not plan on paying anything extra on there. Just want to bring down my CC balances. I pay min $500 a month on the higher balance to bring it down. This month I have 1100 I can use towards the 2162 balance... If I stay in the same tier as paying 500, I rather not pay 1100 right now.</div><br><br>Message Edited by Sushi on <span class="date_text">05-16-2008</span> <span class="time_text">01:18 PM</span> Fri, 16 May 2008 20:18:37 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240039#M4078 Sushi 2008-05-16T20:18:37Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240592#M4165 Anyone else? Sat, 17 May 2008 17:51:59 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240592#M4165 Sushi 2008-05-17T17:51:59Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240606#M4169 <DIV>Installments loans only count 10% toward scores. CC UTIL count 30%.&nbsp; FICO like UTIL under 10% and bal $0 on some accounts.</DIV> <DIV>&nbsp;</DIV> <DIV>SL if in good standing will work in your favor as they also count toward your history!&nbsp; </DIV> Sat, 17 May 2008 18:15:40 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/240606#M4169 HappyDays 2008-05-17T18:15:40Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/242032#M4410 <div>I just went from 10% util to 4% util and gained 16 point on EX and 10 points on EQ.  I also had 1 INQ go over 1 year so I now have 2 INQs on EQ.  TU hasnt reported util change yet so it should also rise soon.</div><div> </div><div>I dont know if 9% would have gotten me the same result as 4%</div> Mon, 19 May 2008 20:46:26 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Help-with-with-Util/m-p/242032#M4410 marty56 2008-05-19T20:46:26Z