Reply
Established Member
Posts: 50
Registered: ‎12-07-2008

Equifax myFiCO- 717!

Hey guys,

 

I haven't ran my credit report since January 2nd, 2009.

 

My EQ report from January 2nd was a 683.  

 

4/18/2009- EQ: 717

 

I am very glad to see this increase, as I know it was from a few high balances that I ended up paying off in the past 3 monthsSo, out of my 6 accounts, now only 2 show a balance....and after this month, only one will (I BT'ed 450 from a 21.50% interest rate TIRES PLUS card (tires), to a BT rate of 3.99 on my Discover). 

 

So, now I only have one card with a balance of about 1,000 dollars out of I think 13.5k available credit to my name.   My boss owes me 650-700 of that balance, and he is going to start paying me 50 dollars a week to pay down the balance, and the remaining 300 is my balance that will be paid down 20-25 dollars a week.

 

I hope within the next 5 months, when I pay off this and finally become debt free (Although it was never a problem, I am being smart with credit)....my score will be in the 730's or even better yet 740's given another year to my credit history....then I can get a good loan :smileyhappy:

 

Kenny D

Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Equifax myFiCO- 717!

Much congrats and kudos!  Don't "spend" all that new FICO too quickly :smileyvery-happy:

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Established Contributor
Posts: 645
Registered: ‎10-24-2007
0

Re: Equifax myFiCO- 717!

Congratulations on your scores Kenny :smileyhappy:  Keep up the good work!
Valued Member
Posts: 34
Registered: ‎05-24-2007
0

Re: Equifax myFiCO- 717!

Whoot-whoot! Way to go Kenny!:smileyvery-happy:
Regular Contributor
Posts: 208
Registered: ‎02-10-2008
0

Re: Equifax myFiCO- 717!

I know that feeling and its amazing.

 

We work hard today to collect our rewards tommorow.


Congrats.......

Established Member
Posts: 12
Registered: ‎03-17-2009
0

Re: Equifax myFiCO- 717!

I kinda had the same thing happen to me.  On Mar. 25th I got a Score Watch credit alert that my Equifax score had zoomed up to 719!!!!!!!!!  However, just a month prior my Equifax score was 682. I haven't done anything differently and nothing's changed on my credit report.  I've been paying down debt and I'd put like an extra $75 or $100 a month towards my debt repayment.  I figured (and I don't know) that my debt/credit utilization must have changed and put me over some magic number which made my FICO score go up???  My utilization is still high at 61%....dang, if I hit 40% utilization...I'll be in the 800 range...HEHEHEHEHE.  Just kidding...but I thought it would take me years to hit the 700's.  I've figured that it's gonna take me about 18-24 months to pay off this $7,000. 

 

I do have question about the utilization ratio thing...I have several store credit cards that have zero balances and I haven't used in years but are still showing on my credit report as open (no I'm not gonna to cancel them...learn that from this board)....are those credit lines part of my utilization even though I haven't used the cards in years????

Senior Contributor
Posts: 3,684
Registered: ‎01-10-2008
0

Re: Equifax myFiCO- 717!


sassizme wrote:

I do have question about the utilization ratio thing...I have several store credit cards that have zero balances and I haven't used in years but are still showing on my credit report as open (no I'm not gonna to cancel them...learn that from this board)....are those credit lines part of my utilization even though I haven't used the cards in years????


yes, as long as they're reporting as "open".  in order to ensure they continue to report as open you may want to use them say every 3-6 months, or so depending on the issuer, so they are not closed due to dormancy. 

 

if the issuer happens to be hsbc, they can be particularly quick to close for nonuse so use them (at least for a small purchase) or lose them is a rule of thumb.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Senior Contributor
Posts: 3,684
Registered: ‎01-10-2008
0

Re: Equifax myFiCO- 717!

award worthy performance xxKennyDxx!  super congrats, keep it up :smileyhappy:
FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Member
Posts: 12
Registered: ‎03-17-2009
0

Re: Equifax myFiCO- 717!

Score_building, thanks for the clarification!  I have only two cc's - MC & Visa - the rest are store cc's & one LOC.  So, I went back & checked all the cards & LOC (it reports as revolving) that reported for March 09 and recalculated my utilization and now my utilization is at 50%.  So, my utilization reaching the 50% mark is probably what increased my Equifax score to 719. 

 

Thanks again Score_building for your response!

Established Member
Posts: 50
Registered: ‎12-07-2008
0

Re: Equifax myFiCO- 717!

Thanks for the comments.

 

 

I have 1,000 more in debt that will be payed off within the next 3 months.  Then, I am going to hit up all of my credit cards for another CLI (I hit them all up on January 1st, 2009 and got a CLI on every card except of course, AMEX lol), and then keep the process going.

 

My goal is to have a 730 score, because when I am going to go buy a house this October, I want it as high as possible.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.