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cc util

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cc util

How much of a "boost" do you see in your score when you bring down util of cards to under 9%? I know, it just depends, but on average, 1 point up? 10? 100? My cards are maxxxxed right now, am working to bring them down, and store in sock drawer, but am wondering how much of a boost we might see when we go from 106% to 6%.
Message 1 of 5
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Valued Contributor

Re: cc util



mrswayne wrote:
How much of a "boost" do you see in your score when you bring down util of cards to under 9%? I know, it just depends, but on average, 1 point up? 10? 100? My cards are maxxxxed right now, am working to bring them down, and store in sock drawer, but am wondering how much of a boost we might see when we go from 106% to 6%.


Hi mrswayne,
 
If you really want to know how many points will goes-up by reducing the util on your credit cards, try the Citi Identity Monitor for 30 days for FREE.  And use the Credit Analyze to see how many points will changes.  You must sign-up for On-Line Report to use this Credit Analyze program.  It does not give you FICO score, it is FACO score but it will give you an idea about points changes.   http://www.identitymonitor.citi.com/
Have fun!
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It's very tough with small income ~ The Rewards are big little helper to me.
Message 2 of 5
Valued Contributor

Re: cc util

40-50 points is not unrealistic
New York Yankees - 2009 World Series Champions. 27... and counting.....
Message 3 of 5
Moderator Emeritus

Re: cc util

If you are truly going from 106% to 6%, I would predict 100+ points.
 


Message Edited by cheddar on 04-15-2008 08:28 PM
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 4 of 5
Established Contributor

Re: cc util

I'd agree at least a 100 point increase with that kind of paydown, maybe 150 if you have long, established histories.  There is nothing that helps a score like eliminating balances.  It carries the most weight in the FICO formula from what I've been able to discover in my attempts to crack it...lol. 
07/26/2007 TU-688
EQ-656
EX-649
Message 5 of 5