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Frequent Contributor
Hcontreras
Posts: 300
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 Everyday $15k | AMEX BCE $6k | HEFCU $5k | Chase Freedom $3.5k | Capital One QS1 $2.5k | JCrew $1,150 | Capital One Platinum $1k | Walmart $900 | Chase Slate (AU) $22k.

Now in the garden.....All 3 credit reports frozen. :-)

Current FICO Scores: 728 (EX) | 714 (EQ) | 726 (TU)
Regular Contributor
kezia2410
Posts: 124
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
alvon123
Posts: 6,127
Registered: ‎09-24-2013
0

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

congrats

Mouse cursor over cards to see limits
Frequent Contributor
aubie1kenobie2
Posts: 258
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: 728 (Discover FICO), 716 (DCU EQ)
Goal: Get my first car loan in 2014! -- done! Next goal: Get one of my Amex cards to a 5-digit CL!
Gardening until December 2014 :-)
Frequent Contributor
tattooedhusker
Posts: 497
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 $9.5k | Lowes $17k | Sportsmanss guide $5.5k | Chase Freedom $1k | Discover IT $1.4k |
Walmart $8k | Gordman's $1750 |
Scores: EQ: 676 EX: 714 TU: 720 Goal: 750 across the board
Established Member
lov2xlr8
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
BigBS
Posts: 2,212
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 | Citi TY Pref WMC - $21.9K | Coldwater Creek MC - $15K | Discover it - $11.5K | FIA AMEX - $16K | Synchrony Bank/HH Gregg - $10K | 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 - $20.3K Last HP 24 Ju1 14 - Gardening into 2015.
Contributor
fricnfrac1
Posts: 86
Registered: ‎06-27-2009
0

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

Congrats! 


03/12/14 Fico 698 EXP

Member
r3buildit
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
Jerzee123
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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