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Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

Score Simulator Challenge!!

Ok, making a credit card payment tomorrow and goal is to maximize my score.Used the simulator inputing various amounts.Appears that the increase in score was greatest in the 2-8% range.Should I go high with 8% or keep the Util closer to 2%?  Keep in mind I have only one credit card. Got to get this right.Auto shopping soon!!

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: Score Simulator Challenge!!

what are your scores? 

 

and if your using the best course of action, keep in mind thats over a 24 month period. not pif or paid down in this case. 

Current: Discover Fico 689 9/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

Re: Score Simulator Challenge!!


MountainHiker wrote:

OlegWasHere wrote:

what are your scores? 

 

and if your using the best course of action, keep in mind thats over a 24 month period. not pif or paid down in this case. 


Hi

Scores are EQ-FICO 708,EX-PLUS 705,TU-FICO 710. Not the best but hoping to improve them.


 

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: Score Simulator Challenge!!

[ Edited ]

MountainHiker wrote:

MountainHiker wrote:

OlegWasHere wrote:

what are your scores? 

 

and if your using the best course of action, keep in mind that's over a 24 month period. not pif or paid down in this case. 


Hi

Scores are EQ-FICO 708,EX-PLUS 705,TU-FICO 710. Not the best but hoping to improve them.


 


what is the balance/limit now? 

with one card its kind of hard to tell. 

 

Also are you financing or leasing?  

 

I'm in the same boat. I believe my scores will be in the 700's when all my accounts update. 

I have one card with a balance and before statement closes im paying it to reflect a total of 5 percent util. nothing in specific just my personal preference. 

im going car shopping sept 3rd (all the deals are away the 4th) 

and my car wont last me past the first week of September. 

 

 

Current: Discover Fico 689 9/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

Re: Score Simulator Challenge!!


OlegWasHere wrote:

MountainHiker wrote:

MountainHiker wrote:

OlegWasHere wrote:

what are your scores? 

 

and if your using the best course of action, keep in mind that's over a 24 month period. not pif or paid down in this case. 


Hi

Scores are EQ-FICO 708,EX-PLUS 705,TU-FICO 710. Not the best but hoping to improve them.


 


what is the balance/limit now? 

with one card its kind of hard to tell. 

 

Also are you financing or leasing?  

 

I'm in the same boat. I believe my scores will be in the 700's when all my accounts update. 

I have one card with a balance and before statement closes im paying it to reflect a total of 5 percent util. nothing in specific just my personal preference. 

im going car shopping sept 3rd (all the deals are away the 4th) 

and my car wont last me past the first week of September. 

 

 


My Limit is $2K, balance is about $650. Not sure if I should go to 8% util or lower.Opinion?

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
0

Re: Score Simulator Challenge!!

[ Edited ]

MountainHiker wrote:

Ok, making a credit card payment tomorrow and goal is to maximize my score.Used the simulator inputing various amounts.Appears that the increase in score was greatest in the 2-8% range.Should I go high with 8% or keep the Util closer to 2%?  Keep in mind I have only one credit card. Got to get this right.Auto shopping soon!!


Everyone's situation is different and there is no one size fits all approach to this and therefore no "ideal" number.

 

You might have to play around with the percentages for a few months to see what works best for you. Some people say that 1-3% utilization helps the most. For others it might be 5-9%. As I said it's not one size fits all.






Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

Re: Score Simulator Challenge!!


MarineVietVet wrote:

MountainHiker wrote:

Ok, making a credit card payment tomorrow and goal is to maximize my score.Used the simulator inputing various amounts.Appears that the increase in score was greatest in the 2-8% range.Should I go high with 8% or keep the Util closer to 2%?  Keep in mind I have only one credit card. Got to get this right.Auto shopping soon!!


Everyone's situation is different and there is no one size fits all approach to this and therefore no "ideal" number.

 

You might have to play around with the percentages for a few months to see what works best for you. Some people say that 1-3% utilization helps the most. For others it might be 5-9%. As I said it's not one size fits all.







Maybe I should split the difference and go with 5% see how my score responds.

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Score Simulator Challenge!!

I'd start as low as possible. And work my way up each statement till it plateaus or lowers. 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

Re: Score Simulator Challenge!!


iMacDrew wrote:

I'd start as low as possible. And work my way up each statement till it plateaus or lowers. 


Have you notice a score increase pattern by starting very low 1-3% and working upward?

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured

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