56% util to 18% util

[fishbjc]

Sending out $10,000 reallly broke my heart, lol.

I don't believe you get a score alert for balance decreases.....so you won't see one for this.  If I'm wrong, someone correct me!

[Anonymous]

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bassethoundmom wrote:

I've been waiting to see what paying my util. down from 95% to 3% last month does too.  I keep hoping to see an alert but nothing yet.  Any guesses on my point increase? 

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I'm doing the same thing!  I check Equifax ALL the time!  Amex is really slow, but they should report in the next couple of days.  I feel like a kid waiting for Santa to come!

[bassethoundmom]

I was hoping to get an alert because I have the settings scheduled to notify me if my score reaches my goal and paying this off should meet or exceed my goal?   Also, a CO agreed to a PFD so hopefully in the next week or so that will drop off and spark an alert. 

[Anonymous]

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bassethoundmom wrote:

Thanks, 78 points would be fabulous! 

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Keep in mind this is nothing more than an educated guess!

I could be off by 10 or 20 or 85.

[Anonymous]

Hope 2 see a good score update Im kinda in the same boat !!! except mine is reporting by error of the company not updating my balance for a year on an installment loan! it was 9,000 now its around 6900 so maybe I will also I need to pay my cards down Id love to see your update! so please keep us posted! how many points you get Im thinking 78+ ill be Wishing you GOOD FORTUNE........

[Anonymous]

I can never get points from EQ.  I keep util under 7%.  Come to think of it all my scores have remained the same for months. But EQ is the only one under 700.  I just don't understand it.  The one time I paid to 0% I lost points.

Message Edited by casinoannie97 on 07-02-2008 01:44 PM

[Anonymous]

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casinoannie97 wrote:

I can never get points from EQ.  I keep util under 7%.  Come to think of it all my scores have remained the same for months. But EQ is the only one under 700.  I just don't understand it.  The one time I paid to 0% I lost points.

Message Edited by casinoannie97 on 07-02-2008 01:44 PM

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Most anecdotes on this site tell of a approximately 10 point hit from registering 0% utility. One card posting a 1-3% balance seems to optimize the utility category. Unless you are applying for a loan soon, there is no need to be that crazy about your balance reporting though.

[Anonymous]

Generally the lower your score, the greater the boost you'll get from lowering util. It's part of FICO's "reversion to the mean" bias. When your score is above the mean (say mid-700s or higher), anything bad you do costs you more, and anything good has a weaker effect. When you're below the mean (upper 600s or lower), negative events hurt less and positive events score more.

This is a ray of hope for people with really sucky FICOs (low-500s or lower). The challenge those folks have is in obtaining credit in the first place. Once they manage to get a couple revolving accounts, and keep them in good standing with low balances, that reversion to the mean kicks in and improves their scores into the 600s in fairly short order (unless there's a BK in the past year or CO in the past four or five months anchoring the score).

[smallfry]

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@Anonymous wrote:

I can never get points from EQ. I keep util under 7%. Come to think of it all my scores have remained the same for months. But EQ is the only one under 700. I just don't understand it. The one time I paid to 0% I lost points.

Message Edited by casinoannie97 on 07-02-2008 01:44 PM

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IF you have new accounts expect EQ to penalize for 2 years. Judging the movement of my EQ score against EX and TU I have to conclude that since I have seen nice score movement in EX with 8 inquiries while EQ lays like a dog with only 1. This has gone on well over 8 months now on my reports.

[smallfry]

NWM as usual is correct IMHO.