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Valued Contributor
Posts: 1,145
Registered: ‎04-13-2013
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Bringing down utilization WORKS if you want to improve score

DH had a EQ fico score of 682 with one of his CCs maxed out. Overall util was 35%. We did a BT to one of my cards for part of his balance, which brought the util on the maxed out card down to 52% and overall util to 19%. The statement just cut and reported and got a SW alert for his score - 705!!! 

 

Of course, our overall plan is to pay down our CC debt. That's one of the reasons we're moving to a cheaper apartment at the end of the month. We have a small window of time before statements cut for his other cards (and my CCs which he's an AU on) where he'll have the best util with another TL reporting a zero balance so we're going to go for the Amex BCP. Since we always cook, both of us having the BCP is basically money on the table. I can't wait to see what his score is going to be like once his personal line of credit reports the zero balance. I was nervous about his chances for the BCP at 682 but I'm feeling a little better with the new score! Of course, I don't know what his EX fico score is but I'm just hoping that they're somewhat comparable. But I could be wrong. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
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Senior Contributor
Posts: 26,926
Registered: ‎02-07-2013
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Re: Bringing down utilization WORKS if you want to improve score


parakleet wrote:

DH had a EQ fico score of 682 with one of his CCs maxed out. Overall util was 35%. We did a BT to one of my cards for part of his balance, which brought the util on the maxed out card down to 52% and overall util to 19%. The statement just cut and reported and got a SW alert for his score - 705!!! 

 

Of course, our overall plan is to pay down our CC debt. That's one of the reasons we're moving to a cheaper apartment at the end of the month. We have a small window of time before statements cut for his other cards (and my CCs which he's an AU on) where he'll have the best util with another TL reporting a zero balance so we're going to go for the Amex BCP. Since we always cook, both of us having the BCP is basically money on the table. I can't wait to see what his score is going to be like once his personal line of credit reports the zero balance. I was nervous about his chances for the BCP at 682 but I'm feeling a little better with the new score! Of course, I don't know what his EX fico score is but I'm just hoping that they're somewhat comparable. But I could be wrong. 


WTG keep up the good work get those balances down and scores will show it:smileywink:

+ Chase ink =




Valued Contributor
Posts: 1,715
Registered: ‎03-07-2013
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Re: Bringing down utilization WORKS if you want to improve score

Super! Nice score bump :smileyhappy:


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Regular Contributor
Posts: 136
Registered: ‎05-13-2011
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Re: Bringing down utilization WORKS if you want to improve score

wow thats great. im currently doing the same thing to bring my scores up. the worst is waiting for them to report after youve paid them to see the effects.




Starting Score: 5/30/13 TU 630; EQ618: EX PLUS639
Current Score: 4/2/15 TU 661; EQ 617; ; EX FICO 631
Goal Score: 700






Established Contributor
Posts: 574
Registered: ‎06-04-2012
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Re: Bringing down utilization WORKS if you want to improve score

A 23 point bump??? NICE!

 

~kn


EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
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