There is something about that "fine tuning". Of course I had to try that in the past. I found that my so called "sweet spot" is having one card show a 4% util with the others showing 0%. And for some reason, if the card is my DiscoverIT, it gives me a 3 point boost over what Chase did. Have no idea why, just did.
40k auto loan hit today....NO CHANGE on eq score, still 689.
So net affect of new persinal loan, paying off auto loan, and adding auto loan was net score change of (-5)
total util is 85%-->58% currently and received 26 point boost for the 27%drop.
another 50% drop in util to total of 8% still yet to report so hopefully net will be >735 across the board and I'm gtg for a zero down mortgage!!
lastly, student loans officially consolidated today, but are in forebearance for a 2 month grace. Got emails from old holders my old loans are paid off . Doubt this will wit score before I apply but from what I've read is will boost score as 21 student loans will suddenly become paid off and I will be down to just one consolidated student loan.
anxiety is killing me waiting on last CCs to report!!!
thanks for the updates; this has been a fascinating thread to follow. I begin my own utilization drop shortly, and inspired by this thread/experiment I may do a bit more deliberately in order to chart my changes incrementally.
Wow, this is awesome!! Keep it up!
starting scores 682, 668, 706. 2/27/14
starting util on those reports 68%, 85%, 85%
paid off one auto loan, added one auto loan, added one personal loan.
increased credit limits and paid down balances to individual card utils of 0%, 8% and 9%
new reports show utils of 6% (ex) and 8% (eq and tu)
final scores 734 EX 736 EQ 751 TU
final lender (mortgage) fico04 classic pull 730, 736, 750
thats jumps of 52 points, 68 points and 45 points respecitvely. also factor in a 8-10 point drop varying by report for the installment loan changes based on my individual reports along the way. so averaging it all together and accounting for the installment loans........
my scores rose 0.88 poinbts for every 1.0% drop in util!!
thanks to all for their input.
That is outstanding! Congratulations!!