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Credit Utilization Decrease

Established Member

Credit Utilization Decrease

Hi everyone,  right now my UTL is at 47%.  Ive paid all my balances down to 5% UTL.  Once these new balances have been updated what kind of score increase can I expect from originally 615?  Also I have a deletion that Im waiting to be updated...how much from that?  Thanks!

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Valued Contributor

Re: Credit Utilization Decrease

You can never be sure, since FICO scoring varies significantly from person to person. All we know, is that you can expect some type of score increase. But how much is going to depend on what else is on your profile. If you are going from 1 baddie to 0, you could see 50 points - but if you are going from 5 to 4, you may see nothing.

Just wait it out, and see what happens. Keep your head up and don't freak out too much about month to month score changes. The long term improvements are much more important and time will help you.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 2 of 4
Established Contributor

Re: Credit Utilization Decrease

+1  You can always try the FICO simulator when you pull your reports here.  Just go the next steps, middle way down screen. It will give you a range of where your score would fall, provided no other changes take place in your report.

Current Score: EQ: 828, EX: 833, TU: 820 Citi TY Premier WEMC 46.5, (Since 1983)Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| Cap One QS WMC 15K|Chase Freedom VS 19.3k|Citi Dividend WEMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Macys 5k|Sams MasterCard 15k|Barclay Arrival Plus WEMC 18.7k|Chase IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k|Amex Everyday 16.2|BBVA Amex 22.5k|Total Rewards VS 12.5k|SGV 10K|Venture 12k|BOA Virgin Atlantic WEMC 11.2K|MB Amex 9.5k
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Established Contributor

Re: Credit Utilization Decrease


Buckeye07 wrote:

Hi everyone,  right now my UTL is at 47%.  Ive paid all my balances down to 5% UTL.  Once these new balances have been updated what kind of score increase can I expect from originally 615?  Also I have a deletion that Im waiting to be updated...how much from that?  Thanks!


Pay all but one down to zero and you'll see a bigger bump than with all reporting a balance.

 

~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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