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I assume the score you have in your siggy is outdated?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!!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO