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Regular Contributor
Posts: 222
Registered: ‎12-29-2008
0

Will I see much of jump?

I have one CC from my credit union, $1000.00  this months statement is going to show a balance of $173.00.   Do you think I'll see any increase in my scores?  EQ 571 TU 568  TIA!
Established Contributor
Posts: 515
Registered: ‎07-01-2008

Re: Will I see much of jump?

let,

 

Good job on paying down your debt.  The jump will depend on how much other debt you have and your credit limits.  What will this do to your utilization percentage?

Regular Contributor
Posts: 222
Registered: ‎12-29-2008
0

Re: Will I see much of jump?

 Thanks,I was determined to get it down! The only other thing I have is an unsecured loan for $2,400.00 at this same credit union. I don't have any other credit cards...
Established Contributor
Posts: 515
Registered: ‎07-01-2008
0

Re: Will I see much of jump?

What is your credit limit on that credit card?
Regular Contributor
Posts: 222
Registered: ‎12-29-2008
0

Re: Will I see much of jump?

the limit is $1000.00, the balance is $173.00. 
New Contributor
Posts: 70
Registered: ‎02-13-2009
0

Re: Will I see much of jump?

What was the balance before this month's statement? 
_________________


2/21 - TU 637 EQ 643
3/21 - TU 691 EQ 711

Regular Contributor
Posts: 222
Registered: ‎12-29-2008
0

Re: Will I see much of jump?

last month was $642.00
New Contributor
Posts: 70
Registered: ‎02-13-2009

Re: Will I see much of jump?

No guarantee but I'd say you might see anywhere from 20-40 points.  

 

Congrats on paying that down! 

_________________


2/21 - TU 637 EQ 643
3/21 - TU 691 EQ 711

Regular Contributor
Posts: 222
Registered: ‎12-29-2008
0

Re: Will I see much of jump?

That would be great!! Thanks.  I'll keep you posted..Smiley Wink
Established Contributor
Posts: 515
Registered: ‎07-01-2008

Re: Will I see much of jump?

Yes, you should see a nice jump.  Basically you are going from 64% utilization down to 17%.  To get the best results get it under $100.  FICO likes to see between 1% and 9%.  Keep us posted though.
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