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New Contributor
shasta
Posts: 71
Registered: ‎11-02-2011
0

Extremely disappointed

I did a consolidation loan last month in an effort to gain control of some old, high interest CC's. Best buy, Sears, etc. I did the consolidation through prosper.com.

 

I was hoping that with the elimination of these debts, while also putting my utilization down to 9%, that I would see a dramatic score increase. I have some baddies that are over 4 years old, so I figured that my utilization was in large part keeping my scores down.

 

The result? A meager 10 point score increase. Myfico EQ went from 658 to 668. This included a CC debt reduction of $4,000 and utilization from about 70% down to 9%.

I really don't know what else I can do to increase my scores..............oh well, better up than down. lol

 

Regular Contributor
a3quit4s
Posts: 211
Registered: ‎03-07-2013
0

Re: Extremely disappointed

Those baddies will fall off soon. Make sure you don't do any apps and you'll see an increase over a few months


EQ 733 3/3/13 GOAL: 800 Merrill Lynch Merrill+ $12,500 | AMEX BCE 6K | AMEX PRG NPSL | CSP 6K | Freedom 5K | Discover IT 5K | HVFCU 10K | American Eagle Visa 5K | Citi Thank You Preferred 6,100

In the garden since 4/22/13 | Hating on Capital One since '09
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Extremely disappointed


shasta wrote:

I did a consolidation loan last month in an effort to gain control of some old, high interest CC's. Best buy, Sears, etc. I did the consolidation through prosper.com.

 

I was hoping that with the elimination of these debts, while also putting my utilization down to 9%, that I would see a dramatic score increase. I have some baddies that are over 4 years old, so I figured that my utilization was in large part keeping my scores down.

 

The result? A meager 10 point score increase. Myfico EQ went from 658 to 668. This included a CC debt reduction of $4,000 and utilization from about 70% down to 9%.

I really don't know what else I can do to increase my scores..............oh well, better up than down. lol

 


Hey you went from "Not Good" to "Good" on the FICO scale so thats a good thing!!!

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014

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