jump expected...all scores reporting 598.hmmm

[RAISEUP]

Hello family :-) silly me, been paying on time, getting baddies deleted and wondering why that score has not hit the 620 threshold yet. I have to say after coming to class with you guys it hit me...

I have a single card with a $400 limit. I've noticed I have had a balance of $380 or more for the last 6 months. duhhh. Should I pay it down completely or leave about $20 on it for utilization. What kind of jump can I expect.

Thanks my fellow score junkies...

[Anonymous]

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RAISEUP wrote:

Hello family :-) silly me, been paying on time, getting baddies deleted and wondering why that score has not hit the 620 threshold yet. I have to say after coming to class with you guys it hit me...

I have a single card with a $400 limit. I've noticed I have had a balance of $380 or more for the last 6 months. duhhh. Should I pay it down completely or leave about $20 on it for utilization. What kind of jump can I expect.

Thanks my fellow score junkies...

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If you pay it to zero a creditor may not report it but I would leave at least 5 bucks on it.  When was the last time it reported?  Some only report every three months or so. 

[RAISEUP]

Brammy its Orchard Bank, they actually report every month and was told that they send info to CRA's at the end of every month.

[Anonymous]

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RAISEUP wrote:

Brammy its Orchard Bank, they actually report every month and was told that they send info to CRA's at the end of every month.

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In that case I would try and pay it down before the next statement date

[RAISEUP]

Thats the plan Friday, definitely keep you posted.

[Anonymous]

Definitely pay that card down to about $10. Opening a couple new cards once your payment posts and you see a FICO increase will only help you. It's hard to see a big increase in your scores if you only have 1 positive TL showing active on your report. Consider a Target card and a Hooters card to help you get some more positive TLs.

[Anonymous]

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@RAISEUP wrote:

Hello family :-) silly me, been paying on time, getting baddies deleted and wondering why that score has not hit the 620 threshold yet. I have to say after coming to class with you guys it hit me...

I have a single card with a $400 limit. I've noticed I have had a balance of $380 or more for the last 6 months. duhhh. Should I pay it down completely or leave about $20 on it for utilization. What kind of jump can I expect.

Thanks my fellow score junkies...

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Pay the card down to the single digits.

Get two more credit cards. Keep those balances low too.

It may take until around the end of the year, but watch your score rise...

[RAISEUP]

Thanks guys, just realized I should have been a lil more specific. I have a best buy card as well and 2 postive car loans. all in all, I believe its the utilization thats keeping me stale. Thanks and any suggestions are truly appreciated.

[Anonymous]

Assuming both other accounts are positive, I would still open 2 more accounts. It helps to balance old bad TLs with new positive ones.