01-06-2012 02:17 PM
Wow. That is a MASSIVE payment. The largest credit card payment I've ever made was $600 -- and that is when I paid off my iPad.
01-06-2012 02:28 PM
It dropped into the low 700s so I took a hit. Amazing how much utilization impacts score.
Congrats on paying them back down - sounds like you had a high utilization for just a short time. Keep us posted on your score changes.
01-06-2012 03:13 PM - edited 01-06-2012 03:15 PM
I know it will drop my utilization but I'm wondering the score effect it will have?
What was the utilization before the pay down and what will it be now?
This infomation could help us give you a general-ish idea, of what you might expect to see scorewise.
And do you know your current EQ FICO?
I assume the score you have in your siggy is outdated?
ETA: Super Congrats, that is an amazing amount to pay down at once, great job!!
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.