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My husbads EQ FICO on 3/10 was a 511. We had a FP cc that was charged off around may of last yr and the balance was like $368, we settled and paid $272 feb 11, on 3/10 I got a score watch alert his score went from a 509 to a 511. Fast forward to March 22, I got an updated score power report and his score had gone up to a 558 from a 511. Nothing else had been done to his credit since the 2 point increase on march 10th. The FP card is reporting a $96 balance instead of a $0 balance and settled. FP said they werent updated of the payment or something for them to have updated his CR to put the card as a $0 balance and settled, but they obvioulsly reported the payment cause the card is reporting a $96 balance now. So when they report the $0 balance and settled next month, should we expect to see another score increase? We saw a 2 point increase when it went from a $368 to a $96 dollar balance. I have no clue how he got the 47 point jump, but i'll take it!! Just wondering if we should expect to see an increase going from a $96 balance and it reporting negatively, to a $0 balance and settled.
no one has experience paying a cc down to a $0 balance and seeing or not seeing a jump?
Kind of makes me mad it didnt go straight to a $0 balance, probably wouldve gotten a bigger jump. Thanks, hopefully we see another jump, even if its small.
@cwwatts1202 wrote:Kind of makes me mad it didnt go straight to a $0 balance, probably wouldve gotten a bigger jump. Thanks, hopefully we see another jump, even if its small.
My Cap1 and FP paid CO's did the same thing. It actually works into your favor so don't sweat it.
not sure when you paid down to 0 balance score will go up. i let my balance reported 6% score higher than 0% util
Trish,
These are CO accounts.