How managing balances helps (UTI)

[Anonymous]

If assumed that I have 3 CCs with UTI under 15% each month, by how many points my scores would go up in 6 months? What would be your educated guess?

[Anonymous]

Thanks Norman.  It is a big help.  I am in the process of doing the same just to shake things up.  And it is working!  Won't know all the results just yet. And boy are your right about EX.  Stays the same no matter what!  

[Anonymous]

Please keep us posted on this.

[Anonymous]

This thread is so helpful! Thank you!

[Anonymous]

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@Anonymous wrote:

If assumed that I have 3 CCs with UTI under 15% each month, by how many points my scores would go up in 6 months? What would be your educated guess?

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Impossible to even geuss with such little information.

[Anonymous]

Thanks, Norman, for starting this thread and sharing your information. I am learning so much. 

In my wallet: Quicksilver 5000; Venture 15,000; Barclay Apple Rewards 2000; CareCredit 3300; Bank of America Platinum Visa 2000; Bank of America Travel Rewards 3500; Bank of America Travel Rewards 3500; Amazon Store Card 5000; Discover 10,000; Barclay Ring Platinum MasterCard. 12,500. Total Credit: 61,800.
6/27-FICO: EQ - 789; TU - 776; EX - 681; GOAL: 780 across the board then 800 across the board. Chapter 13 seven years May, 2015. Reset my garden date to 6/27. Gardening until further notice.

[Anonymous]

Hi Norman,  Thanks for posting.  This lines up exactly with my experience.  

[Anonymous]

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@Anonymous wrote:

Just to illustrate how balance management can help, heres an illustration:

At the beginning of June I had only one of my three cards reporting a balance of $56 (3.7%), and my scores were:

TU - 613

EQ - 583

EX - 594

Unfortunately I had signifigant moving expenses and one annual fee this month, and my balances have reflected that - they went from $0/$0/$56 to $59/$481/$723. All three card carrying a balance, two of them near 50%. Here is how that effected my scores:

TU - 602 (-11)

EQ - 565 (-18)

EX - 592 (-2)

Its interesting to note that EX does not seem to be as sensitive to balance changes as the other two.

This coming month its not going to be much better - Barclays will go from $481 to below $250, but one Cap One card will go from $723 to a little over $1000, while the other Cap One card should go back to $0. I will update this post with the changes.

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I wanted to update this thread with recent changes.

Last month I did a balance transfer from Cap One to Barclays (don't ask why - it didn't accomplish what I wanted anyway) and I also requested my Barclays payment date/close date be changed. As a result of that, my barclays never closed until August 3. Yup, my last statement went from 6/6/15 to 8/3/15. One of my Cap One cards also shifted its close date by three days as well, because of my recent address change. That threw a monky wrench into the machinery of my plans!

So last month was totally hosed up, with Barclays still showing $481, and one Cap one card reported $1122, while the other reported $122. But I also saw score growth at the beginning of the month from aging lates/aging accounts that compensated for the UTI hit.

TU - 604

EQ - 566

EX - 586

OK, so now we come to this month. Barclays reported a nice low balance of $6. My Cap One balance went from $1122 down to $169, and the second Cap One card went from $59 to $122 (thanks to the unexpected date shift). My scores are definitely a little more happy:

TU - 626

EQ - 572 (was hoping for more here)

EX - 604

My Cap One accounts should be eligible for CLI after the 23rd, and Barclays should see its first auto CLI next month about the same time.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Just to illustrate how balance management can help, heres an illustration:

At the beginning of June I had only one of my three cards reporting a balance of $56 (3.7%), and my scores were:

TU - 613

EQ - 583

EX - 594

Unfortunately I had signifigant moving expenses and one annual fee this month, and my balances have reflected that - they went from $0/$0/$56 to $59/$481/$723. All three card carrying a balance, two of them near 50%. Here is how that effected my scores:

TU - 602 (-11)

EQ - 565 (-18)

EX - 592 (-2)

Its interesting to note that EX does not seem to be as sensitive to balance changes as the other two.

This coming month its not going to be much better - Barclays will go from $481 to below $250, but one Cap One card will go from $723 to a little over $1000, while the other Cap One card should go back to $0. I will update this post with the changes.

---

I wanted to update this thread with recent changes.

Last month I did a balance transfer from Cap One to Barclays (don't ask why - it didn't accomplish what I wanted anyway) and I also requested my Barclays payment date/close date be changed. As a result of that, my barclays never closed until August 3. Yup, my last statement went from 6/6/15 to 8/3/15. One of my Cap One cards also shifted its close date by three days as well, because of my recent address change. That threw a monky wrench into the machinery of my plans!

So last month was totally hosed up, with Barclays still showing $481, and one Cap one card reported $1122, while the other reported $122. But I also saw score growth at the beginning of the month from aging lates/aging accounts that compensated for the UTI hit.

TU - 604

EQ - 566

EX - 586

OK, so now we come to this month. Barclays reported a nice low balance of $6. My Cap One balance went from $1122 down to $169, and the second Cap One card went from $59 to $122 (thanks to the unexpected date shift). My scores are definitely a little more happy:

TU - 626

EQ - 572 (was hoping for more here)

EX - 604

My Cap One accounts should be eligible for CLI after the 23rd, and Barclays should see its first auto CLI next month about the same time.

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Well.... Here we are in September already! My first Cap One card is still showing the $169 balance (it will update on the 9th) my Barclays is still at $6 and will update the 3rd - it should update to $0. And my second Cap One card is showing a balance of $4, down from $122. My scores:

TU - 643 (

EQ - 578 (getting better...)

EX - 604 (still?)

We'll see if anything changes when Barclays reports $0....