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Just Paid $36,000 in Revolving Debt

Super Contributor

Re: Just Paid $36,000 in Revolving Debt

Your siggy says 767. Was that your fico before paying your balances?



Established Contributor

Re: Just Paid $36,000 in Revolving Debt

It dropped into the low 700s so I took a hit. Amazing how much utilization impacts score.

Established Contributor

Re: Just Paid $36,000 in Revolving Debt

 

Congrats!!

 

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In the garden since 26 Jun 14...

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Established Contributor

Re: Just Paid $36,000 in Revolving Debt

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.

Transunion: 713 FICO (5/13/2014) MyFico
Experian: 789 FICO (4/10/12) Lender Pull
Equifax: 695 FICO (1/10/14) MyFico

My cards: Chase United Mileage Plus 7000CL (3/12), CITI Simplicity 1800CL (9/12), Cap1 Platinum 1000CL (2/10), Cap1 Cash back 1500CL (11/11), Apple Barclay's 2500CL (11/11), Discover IT 6000CL (5/13)

My Primary Financial Goal is to put down my utl%.



Valued Contributor

Re: Just Paid $36,000 in Revolving Debt

Util % makes up 35% of your Fico scoring....you are going to see a nice increase once it report IMHO. Congrats !!

Moderator Emeritus

Re: Just Paid $36,000 in Revolving Debt


Uncle_Money wrote:

It dropped into the low 700s so I took a hit. Amazing how much utilization impacts score.



Oh yeah!  

 

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.

Just puttin' syrup on something, don't make it pancakes.
Valued Contributor

Re: Just Paid $36,000 in Revolving Debt


MarineVietVet wrote:

Uncle_Money wrote:

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?

 

 


+1

 

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I assume the score you have in your siggy is outdated?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!!

 


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

Take the FICO Fitness Challenge


Established Contributor

Re: Just Paid $36,000 in Revolving Debt

Congrats! It's such a good feeling when you pay off CCs. Smiley Happy


Starting Score: 760
Current Score: 716 Equifax 754 TU 736 Experian
Goal Score: 760