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Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Can someone explain what happened?

I paid all my open CC down to $0 balance.  (well one may have had a monthly recurring charge of around $10 post)  Total limits are $500, $300, & $600.  I waited until after the posting dates/when statements cut.  They post on the 9th, 31st, & 2nd.  So I pull my report/score for TU from this site & yay my score is up to 585 now.  (it started at around 460 2 years ago)  So I'm very happy about the improvement. 

 

However, what puzzles me as one of my main negatives is my utilization showing around 70% because it is still showing the high balance on all 3 CC from the last month.  I don't understand this at all because they should have all posted updates to the 3 CRA by now. 

 

What gives & what did I do wrong because now I've wasted the money to pull my report/score when it's not even accurate because it's showing my utilization at 70% when it should be pretty close to 0%.

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Valued Contributor
takeshi74
Posts: 2,845
Registered: ‎06-05-2013
0

Re: Can someone explain what happened?

[ Edited ]

Keep in mind that it takes time for the CRA's to update.   The one that reported on 3/9 should be up to date but if you're expecting the ones that reported on 3/31 and 4/2 to have updated then you probably pulled your reports too early.  Also make sure you're looking at balance versus high balance.  High balance will be whatever your highest balance has been on the card.

 

I'd suggest using a CMS that allows for daily pulls to verify stuff like this.

Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: Can someone explain what happened?

[ Edited ]

Thanks for the info.  I just feel like I blew $16 on nothing after I waited to patiently to have them all paid off & for them all to update.  I'm still pleased to have gained 80 points since I pulled on my report on here last June & it was 505 at that time. 

 

Any predictions on how much more my score will go up when the following cards report $0 balance?

USAA AmEx showing $482 on $500 card

USAA MC showing $255 on $600 card

(both of these will be $0)

Stellar One Visa showing $246 on $300 card (this may be around $10 depending on when it reports because I use this for all my little monthly charges)

 

ETA no I'm looking at balance because it is showing my last activity on these accounts to be in February!

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



New Contributor
JoshuaHolySpirit
Posts: 116
Registered: ‎11-21-2013
0

Re: Can someone explain what happened?

Why your TU score is at 585 after 2 years?

 

Do you have any baddies?? You should be like at 660-720

Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: Can someone explain what happened?

Well considering 2 years ago when my ex & I split it was only 460 I think I'm making progress but yes I still have baddies reporting.  Numerous charge-offs/collections (all paid).  Despite numerous phone calls, letters, etc no one will remove from my credit report but they are all showing $0 balance now.  So I guess if I ever have a manual review I might be okay.  A couple lates (but none in almost 2 years) & none over 30 days late. 

 

Pretty much what was killing me recently was my utilization & I was so pleased to pay it down to $0 so I could pull my reports.  Guess I should have waited a bit longer. 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Valued Contributor
BigBS
Posts: 2,225
Registered: ‎02-18-2014
0

Re: Can someone explain what happened?

Are the USAA and Stellar One cards no longer open?


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Established Contributor
thelethargicage
Posts: 621
Registered: ‎09-19-2012
0

Re: Can someone explain what happened?

It takes at least a week for it to be reflected on your CR.
      
"The family who apps together files for bankruptcy together." - Dave Ramsey
Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: Can someone explain what happened?

All the cards in my signature are still open although I'm contemplating closing the USAA AmEx now that I have the Care Credit as that was the card I kept only for vet bills & to have for emergencies.  And then put the deposit money either towards increasing the balance on my USAA MC, put it in savings, or put it in my IRA account. 

 

Geez I thought I had everything timed perfectly.  So now it appears I should have waited another week or should I wait longer to pull my score again?

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Contributor
VirusCredit13
Posts: 163
Registered: ‎02-20-2013
0

Re: Can someone explain what happened?


mt2va wrote:

All the cards in my signature are still open although I'm contemplating closing the USAA AmEx now that I have the Care Credit as that was the card I kept only for vet bills & to have for emergencies.  And then put the deposit money either towards increasing the balance on my USAA MC, put it in savings, or put it in my IRA account. 

 

Geez I thought I had everything timed perfectly.  So now it appears I should have waited another week or should I wait longer to pull my score again?


Unless you are about to apply for credit, or make a large purchase, I wouldn't worry about pulling(buying), your score every month. 

Established Contributor
kroberts67
Posts: 832
Registered: ‎03-04-2013
0

Re: Can someone explain what happened?

It's frustrating sometimes but you just never know when they post but you can at least get an idea if you sign up for daily pulls.  I use USAA for $22.96/mo or something like that.  Even if you just sign up for a month or two then cancel it's helpful to see the trends.

 

Basically this is how I see them posting:  Statements report between 1-5 days after statement cut, depending on the bank/store.  EX is first, EQ is the following day and TU is the 3rd day.  So it's 1-2-3.  TU often takes longer, sometimes 2 or 3 days after EQ.

 

 



FICO: EQ 722 | TU 723 | EX 718
SFFCU Visa $11.3k + LOC $5k, USAA Amex $6k, USAA MC $7k, Amex BCE $13.5k, Cap1 $4k, Freedom $5k, Slate $3.2k, Barclays SM $5k.

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