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Frequent Contributor
Posts: 310
Registered: ‎12-26-2013
0

I gained 33 points from paying down my balance!

I gained 33 points on my score just from paying down my walmart card to $0 from $72. My CL is $150. That was reporting at 48% utilization....makes a big difference! Glad I wasn't at 48% utilization on a CL something like $25,000. I think $72 is manageable. :-))

 

By the way, my walmart account was the only account (of 6 credit cards) reporting a balance. I was experimenting with my score.

In my wallet: AMEX BCE $18k | AMEX ED $15k | AMEX BCP $10k | AMEX EDP $10k | HEFCU $10k | Discover it $4.5k | Chase Freedom $4.5k | Capital One QS1 $4k | Walmart $3,200 | JCrew $1,950 | Chase Slate (AU) $22k.

Now in the garden

Current FICO Scores: 772 (EX) | 766 (EQ) | 764 (TU)
Regular Contributor
Posts: 137
Registered: ‎02-28-2014
0

Re: I gained 33 points from paying down my balance!

That's great!! Im hoping I can get the same results. I just paid 2 cards down to $0 (1 from $76 & the othe from $5) as well. I am 26 points shy of 640 to get my pre approval letter. :smileyhappy::smileyvery-happy:

 

 

Senior Contributor
Posts: 10,080
Registered: ‎09-24-2013
0

Re: I gained 33 points from paying down my balance!

congrats

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Frequent Contributor
Posts: 296
Registered: ‎12-16-2013
0

Re: I gained 33 points from paying down my balance!

wow, good job!:smileyhappy:


Starting Score: No credit history in July 2013, 663 in August (lender pulled)
Current Score: 711 (Discover FICO), 705 (DCU EQ)
Ultimate goal: Buy a house in 2016!
Gardening for now :-)
Established Contributor
Posts: 529
Registered: ‎10-25-2012
0

Re: I gained 33 points from paying down my balance!

Congrats on the increase! I'm waiting for my lowes card to update from $2498/6000 to 0/16000. Hope to have success, but quite that level. Congrats!

NFCU CashRewards $13.5k | AMEX BCE $15k | Lowes $17k | Sportsmanss guide $7.6k | Chase Freedom $1k | Discover IT $4.4k |
Walmart $8k | Gordman's $2950
Established Member
Posts: 12
Registered: ‎10-24-2012
0

Re: I gained 33 points from paying down my balance!

Was surprised how much decreasing utilization can help... After graduating from grad school, paid down 10k of 11k CL on 4 different cards over 6 months, had had a lot of those cards above 90% utilization for years... In that 6 months alone, my score rose 80 points, 100 after all was reported

Valued Contributor
Posts: 2,302
Registered: ‎02-18-2014
0

Re: I gained 33 points from paying down my balance!

Great job!


AMEX BCP - $34.5K | AMEX Delta SkyMiles Gold - $10.4K | AMEX Platinum - NPSL | BofA BBR VISA - $15K | BofA Merrill Lynch + VS - $15K | Barclaycard Arrival WMC - $17.5K | Chase freedom VS - $5.5K | CSP VS - $25K | Chase Slate VS - $13.8K | Citi DC - $23.9K | Citi HD - $25K | Coldwater Creek MC - $15K | Discover it - $14.5K | FIA AMEX - $16K | Synchrony/HH Gregg - $10K | Synchrony/Lowes - $25K | LMCU PP VISA - $10K | NFCU cashRewards VS - $30K | NFM (Store Card) - $6K | PFCU Platinum CRV+ - $39K | US Bank Cash+ - $16.5K | US Bank Cash+ - $12.5K | USAA WMC - $23.4K Last HP 16 Nov 14 - Gardening into 2016.
Contributor
Posts: 87
Registered: ‎06-27-2009
0

Re: I gained 33 points from paying down my balance!

Congrats! 


03/12/14 Fico 698 EXP

Member
Posts: 34
Registered: ‎03-22-2014
0

Re: I gained 33 points from paying down my balance!


Hcontreras wrote:

I gained 33 points on my score just from paying down my walmart card to $0 from $72. My CL is $150. That was reporting at 48% utilization....makes a big difference! Glad I wasn't at 48% utilization on a CL something like $25,000. I think $72 is manageable. :-))

 

By the way, my walmart account was the only account (of 6 credit cards) reporting a balance. I was experimenting with my score.


Congrats!! I gained 54 points by paying down my credit cards... Utilization was 70%.. :smileysad: I would never utilize my cc like that again

Starting score: EX 474 EQ 480 TU 525 January 2012
Current Score: EX 684 EQ 659 TU 661 March 2014
Goal: 700 across the board
Capital One QuickSilver $2000//Capital One Journey $500//Walmart $900//Childrens Place $750//Paypal $1000
Established Member
Posts: 59
Registered: ‎03-09-2014
0

Re: I gained 33 points from paying down my balance!

Hey, i had the exact OPPOSITE happen to me!!! ..received a NY & Co retail card in Jan cl $250

i made a purchase of $69.42 in Feb

credit score dropped 33pts!  within 2-3 weeks , ive been ticked-off!  but i paid the full balance  of $70---- 10 days BEFORE the due date..

 HOPEFULLY  my score  will come back up 30pts since  i have $0 balance now..

do you think i regain some pts back on my score?

http://www.capitalone.com/media/graphic-logo/credit-cards/card-art/price-mc-90-angle.jpg
https://ne.edgecastcdn.net/80033E/www.creditkarma.com/res/content/creditcards/creditoneb/cccreditonebank01_big.png
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