56% util to 18% util

[haulingthescoreup]

Agree! I think my lates used to hurt me the most on EQ, but it actually got up to a pretty decent figure before the app-o-rama.

Now it's back to being the lowest, and I only have one late within the last two years (16 months old.) I'm actually ranked "bad" on Amount of new credit applied for on the first EQ screen with 4 whole inqs!

I've never had "bad" on there before. I feel a weird sort of pride to see it now. I'm eons away from Concorduser and ashabbir1 and some of our other apping maniacs, but I have a taste of the wild life.

[bassethoundmom]

I just got an update on Experian and paying my cc down from 95% to 3% only got me a 34 point increase with Experian.  The balances changes haven't shown up on TU or EQ yet.  I was shooting for a 60 point increase with this, dunno what happened?

[haulingthescoreup]

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@bassethoundmom wrote:

I just got an update on Experian and paying my cc down from 95% to 3% only got me a 34 point increase with Experian. The balances changes haven't shown up on TU or EQ yet. I was shooting for a 60 point increase with this, dunno what happened?

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Ouch! Did all the paid-down accounts report on EX?

Do you also have serious derogs, like 90 or 120 day lates, collections, or BK's? The point gain from util improvement appears to be blunted if you have some really messy stuff going on as well.

But congrats on the paydown! It will definitely make you look better in the eyes of your lenders. Hope you get better results on EQ and TU.

[bassethoundmom]

Thanks,

Yes, I am working on PFD's for the other derogs. and I did have a BK a few years ago.  I didn't realize that would affect my point increase on util?  Hopefully, I can get some of the other issues resolved soon.  I'm hoping the EQ and TU are more generous.  I'll keep you posted on the other two increases.

[haulingthescoreup]

When you have a chance, click the tab on the dark blue bar above that says New! - Credit Education. They have a great pie chart on there that demonstrates how the different factors on your reports count toward your scores.

What you've now done is get pretty much maximum points on your usage category, which is fantastic. But the other factors do contribute as well, so the BK and other derogs are dragging you down.

But that's how you work on your credit: tackle each separate factor and get it as good as you can get it, and then wait for time to finish the healing. Hope that helps.

FICO Credit Education


edit to add: sorry, forgot they'd glommed all that other stuff on there. Here's the pie chart:

FICO Pie Chart


Whoops, fish --I just realized that this was your thread! Sorry for the thread jack. bassethoundmom, we need to shift your discussion over to your thread on Understanding FICO Scoring.

Message Edited by haulingthescoreup on 07-06-2008 09:45 AM