Charge Off DELETED, UTIL Dropped from 81% to 49% - No score change ??

[Anonymous]

Dan thank you. I'm hoping I see a few changes soon myself. My last late was 10 months ago. I may GW the student loan company for it to be removed.

All my credit card balances are due to update on 8/3 so we will see what changes. UTIL dropped 30-40% overall. I am carrying a balance on my Barcaly for 0% Apple financing. That may be hindering. But it still gets me rumpled up

[Anonymous]

So i have four credit cards out of five that are showing a balance.

cap one-298/750

cap one -976/1000

VS- 0/250

Citizens bank-374/500

cap one chargeoff(effecting uti)- 702

if i pay off the the 298 and the 374 should i expect to see a bump now that three cards will have a 0 balance? im looking to pay thing off but in a way that will give me the most points

[Anonymous]

I think the 702 is your biggest problem. Especially being a CO.

[Anonymous]

Damn i was hoping you wouldnt say that.i have a little over 600 to pay off these bils so i want to allocate them correctly.so if i pay on the chargeoff it would increase my chance of getting the most points?Thats weird considering the chargeoff only updates on equifax not the other two whereas the cc's are on all three reports

[Anonymous]

Work on one report at a time with GOOD WILLS and such then. That's what I did its sometimes easiest

[Anonymous]

What do you want to app for

[Anonymous]

ok great. I will payoff the chargeoff and hopefully see a big jump on that report.i remember i paid 75 on it and my score shot up 7 points.im getting married in may and i am looking to hopefully qualify for a higher limit cc by december hopefully that will give us 0% since utilization plays a huge role. im so sick of having bad credit

[Anonymous]

It seems to me that you will need to lower UTI on your nearly maxed out cap 1 card.  That will be a huge blow to your report, over 90% UTI on the single card itself.  If you can get the charge off paid, keep a tiny amount of revolving debt on only 1 CC and then GW / PFD the charge off you should be sitting pretty.  

When I got my UTI down to 1-4% across my three CCs at the time ( $500, $600, $700 limits ) after 3-4 months of that my score is going up ~10 points a month every month and I have 5 COs on my report ( working on that ).  

[Anonymous]

 thought they looked at overall utilization and not individual utilization.

[Anonymous]

Unfortunately it seems they do.  I subscribe to TransUnion.com, Experian.com and have the 3B quarterly thing + monthly score business from myfico and it looks like 31% or higher overall UTI is same to them as 99%, under 30% you get penalized less.  Seems like under 10% is the sweet spot.  

After getting some cards I took some cash out and got an alert that one account went over 60% UTI and my score dropped 13+ points.  

May also need more history too, apparently having 21+ total accounts is considered 'excellent' and having under 6 is considered 'very poor' according to credit karma.