So last month I decided I was going to try something, and see if there was any increase in credit score by maxing out my card the next month, and paying it off the following. As opposed to paying month to month with a lower utilization. I have 1 secured CC at the moment and that is the only revolving account I have. My current credit score is 581. Last month I maxed out that credit card to report it as a 100% utilization, and before it sat somewhere around 30%. It only has a 476$ limit on it, and I'm going to pay it off leaving 5$ on it this next month. Realistically after that is said and done, it reports next week, what could I expect my credit score to be?
So last month I decided I was going to try something, and see if there was any increase in credit score by maxing out my card the next month, and paying it off the following. As opposed to paying month to month with a lower utilization. I have 1 secured CC at the moment and that is the only revolving account I have. My current credit score is 581. Last month I maxed out that credit card to report it as a 100% utilization, and before it sat somewhere around 30%. It only has a 476$ limit on it, and I'm going to pay it off leaving 5$ on it this next month. Realistically after that is said and done, it reports next week, what could I expect my credit score to be?
I'll bite 552-562
Before you app think... Have you done your research of the CC? Does it fit your spending? Do you have a plan for the bonus w/o going into debt? Can you afford the AF? Do you know the cards benefits? Is it worth the HP?
Wait, you maxed it out LAST month and your score dropped to its current 581? My guess would be 6-7 points more than whatever it was when you were 30% the month before
Starting Score: EQ 609 EX 570 TU 656 March 2012 CH 7 BK 12/08 Current Score: EQ 691 EX 694 TU 713 Goal Score: all 3 700's. Quicksilver $5000 Discover IT $1500 Barclays NFL $1250 Walmart $1500 CL Applied Bank $300 (secured) Take the FICO Fitness Challenge
My FICO jumped 15 points today due to high usage. I didnt get close to maxing them out but used them ALOT and paid it over the month. Surprised me.
My Sock Drawer: Care Credit $4200-0, JCP 2100-0, Chase 3000-0, Chase Freedom $4500.00-0, WF $1000.00-0.00 In Use: NFCU Visa Sig $17.5k- 0.00k I still have too MANY CARDS Starting Score 538 Current Score Oct 30-14 701 fico Eq-- 745 Fico Tu-- 713 Fico Ex
Starting Score: EQ 609 EX 570 TU 656 March 2012 CH 7 BK 12/08
