Reply
Member
Posts: 12
Registered: ‎04-14-2008
0

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%.
Valued Contributor
Posts: 1,413
Registered: ‎01-20-2008
0

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!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Valued Contributor
Posts: 1,424
Registered: ‎07-24-2007
0

Re: cc util

40-50 points is not unrealistic
New York Yankees - 2009 World Series Champions. 27... and counting.....
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
0

Re: cc util

[ Edited ]
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
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Established Contributor
Posts: 853
Registered: ‎03-21-2008
0

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
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.