Credit Card Center Advertiser Disclosure†
04-08-2014 01:19 PM
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.
04-10-2014 10:50 AM
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!!!
04-11-2014 11:43 AM
04-11-2014 12:14 PM
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.
04-19-2014 05:43 AM
Wow, this is awesome!! Keep it up!
04-28-2014 07:54 AM - edited 04-30-2014 09:22 AM
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.
04-28-2014 08:43 AM
That is outstanding! Congratulations!!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.