Utilization DOES Matter!

[Changingmantra]

This is more for those of us who are still new and who are still wondering how to improve FICO scores.

At the start of this month Equifax FICO rose from 611 to 619 after my utilization was lowered.

After increasing several credit card balances by at least 400%  over the past two weeks, Equifax dipped to 612 then to 609 where it was until this afternoon.

I got three new accounts over the past few days.  One account with a $600.00 limit hit late this afternoon.  Tonight, Equifax FICO = 616.

Had to see it with my own eyes to really believe how balances play a major role in determining FICO scores.

[MidnightVoice]

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Changingmantra wrote:

Had to see it with my own eyes to really believe how balances play a major role in determining FICO scores.

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Do you believe us now? 

[Changingmantra]

Most certainly!!!!

[Jesedmotherof5]

Thank you thank you! cant wait for my next pull!

[Changingmantra]

Good Luck with it!  What did you decide about the GEMB business account?

[Anonymous]

Utilization can affect your score substantially. It dropped my score about eighty points.

The good part about that is when my financial fortunes turn around, I'll get all those points back and more when I pay down my balances.

[Jesedmotherof5]

I sent them a recon letter... I hope it works!