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Established Member
christinam77
Posts: 24
Registered: ‎02-14-2013
0

Help me Understand (Bringing up Scores)

My CO had a CL of 300.00 & is now sitting at a balance of 39.00 (261.00 avail) since they billed their annual member fee. I was under the impression I should use no more than 20%, however reading the forums I guess it should sit at no more than 9%.

 

I was approved for the VS which I haven't received and again from reading the forums I should leave that one at a zero balance. Or should I charge no more than 9% each month but then pay it off when the statement comes in? Do I do the same for the CO card?

 

Is that correct? Sorry if these appear to be dumb questions. I want to make sure I'm understanding correctly. Last thing I want to do is screw up what's been fixed.

 

Thank you all so much!!

My Scores:
Equ: 575 (11.2011) 631 (09.2012) 646 (12.2012) 652 (01.2013)
Exp: 524 (11.2011) 573 (09.2012) 633 (12.2012) 629 (01.2013)
TU: 520 (11.2011) 601 (09.2012) 636 (12.2012) 641 (01.2013)
My Husband:
Equ: 530 (11.2011) 584 (09.2012) 600(12.2012) 599 (01.2013)
Exp: 529 (11.2011) 590 (09.2012) 621 (12.2012) 616 (01.2013)
TU: 550 (11.2011) 608 (09.2012) 629(12.2012) 626 (01.2013)
Established Contributor
westo12
Posts: 580
Registered: ‎07-20-2008
0

Re: Help me Understand (Bringing up Scores)

From my understanding, to achieve the max Fico points (in respect to revolving credit cards/lines), you should have one card reporting a balance of 1-9% every month and all other revolving lines reporting a $0 balance.  

 

Which means you have to find out what day of the month your statements print, then pay down the 1st card to under 10% and pay any balance on the others down to $0 before the statement prints.

2014 Starting-618, current TU612 (TU 10/6) / Ending Goal score: 720 / 27 Positive TLs / 1 Negative: Unpaid $312 med CA placed 2010 / reported Install Bal/Lim: 25027/36512 | reported Revolving Bal/Lim: 12011/23382=51%util

**IN the garden until I get some auto CLI's on major accts**
Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
0

Re: Help me Understand (Bringing up Scores)

+1


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

Take the FICO Fitness Challenge



Mega Contributor
RobertEG
Posts: 17,706
Registered: ‎03-19-2007
0

Re: Help me Understand (Bringing up Scores)

A lot depends upon the amount of time and effort you want to take in tweeking your score during periods where you are not actually planning to use it for application for new credit.

 

FICO does not score util based on past history, so you can get the util to its max scoring value a month or two before using your score.

Just keep it at a level where you can pay it under 10% at any time, and avoid high util levels that may flag a credit limit decrease.

 

Valued Member
chally
Posts: 49
Registered: ‎12-15-2011
0

Re: Help me Understand (Bringing up Scores)


RobertEG wrote:

 

 FICO does not score util based on past history, so you can get the util to its max scoring value a month or two before using your score.

Just keep it at a level where you can pay it under 10% at any time, and avoid high util levels that may flag a credit limit decrease.

 


Always wondered about util based on past history, good to know, thanks!.

EX08... 675 (12-2013)
EQ04....704 (12-2013)
TU98.....721 (10-2013)

Sears Citi $3.6k - GE/Care Credit $1.5k - Amex BCE AU $5k
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Help me Understand (Bringing up Scores)


christinam77 wrote:

My CO had a CL of 300.00 & is now sitting at a balance of 39.00 (261.00 avail) since they billed their annual member fee. I was under the impression I should use no more than 20%, however reading the forums I guess it should sit at no more than 9%.

 

I was approved for the VS which I haven't received and again from reading the forums I should leave that one at a zero balance. Or should I charge no more than 9% each month but then pay it off when the statement comes in? Do I do the same for the CO card?

 

Is that correct? Sorry if these appear to be dumb questions. I want to make sure I'm understanding correctly. Last thing I want to do is screw up what's been fixed.

 

Thank you all so much!!


Not sure what you mean by CO had a CL of ......What does CO mean?

Established Member
christinam77
Posts: 24
Registered: ‎02-14-2013
0

Re: Help me Understand (Bringing up Scores)

Capital One :smileyhappy:

My Scores:
Equ: 575 (11.2011) 631 (09.2012) 646 (12.2012) 652 (01.2013)
Exp: 524 (11.2011) 573 (09.2012) 633 (12.2012) 629 (01.2013)
TU: 520 (11.2011) 601 (09.2012) 636 (12.2012) 641 (01.2013)
My Husband:
Equ: 530 (11.2011) 584 (09.2012) 600(12.2012) 599 (01.2013)
Exp: 529 (11.2011) 590 (09.2012) 621 (12.2012) 616 (01.2013)
TU: 550 (11.2011) 608 (09.2012) 629(12.2012) 626 (01.2013)
Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012
0

Re: Help me Understand (Bringing up Scores)

Not much for me to tell you....the other members have pointed you in the right direction. Do not worry about the 9% or what card has what balance.... ( UNLESS - you are planning to apply for something) Thats when it matters!!!

*8/10/13

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