Credit Card Center Advertiser Disclosure

New Member
Posts: 2
Registered: ‎04-28-2013
0 Kudos

Looking for advice

[ Edited ]

Hi everyone. I am new to the forums and I hope to gain much needed advise from fellow members. I have been browsing for a little over a month and do get the gist of credit repair.



- Got my first CC in 2008 when I was 19 (unsecured chase slate $500). I remember seeing a score back then of 668 but don't remember which bureau. Never missed a payment but had a high balance of $550 a few years back.

- Received department store credit card in 2009 $100 no balance since 2011.

- Opened another card in 2011 (capitol one platinum $300). Little to my knowledge there was a $3 monthly fee which a failed to pay for about 4 month. I had statements going to an old residence. since I wasn't charging on the card, I failed to check for any statements. Paid the balance in full. Tried to use the card a few days later and it was "restricted". Told the guy to close the account if I cannot use it. Three months later get a phone call saying I owe on the card again (great..). This time I make sure it's canceled (December 2012 closed).

- Got an auto loan in 2011 ($447 a month 39 months). Haven't missed a payment but deferred for 3 months.

- Father signed up for a citi card (2k limit December 2012) and put me as a secondary card holder. He racked up $1980 in debit with it. I am currently paying it down.


One month ago:

Transunion score 3/28- 556

Fico score 3/29- 555

Held $450/500 balance on chase.

Held $1980/2000 balance on citi.

Showing three collections (medical) $1350

-two over 2 years old.

-one is 1 month old.


Since then:

-Paid down Chase card from $450 to $30.

-Paid down Citi from $1980 to $1500.

-Got new Merrick bank credit card $600 (holds $20 balance).

-Got new Capital one platinum $750 (no monthly fee) and it has $30 balance.

- Sent in pfd for 50% of value. Removed one of the collections.

-Available credit went from $2600 to $3950

- Credit card balances went from $2450 to $1600

-Utilization down 54% from 94 to 40%.



Transunion score: up 68 points from 556 to 624

Experian: 617

Exifax: 617

Fico score: up 67 from 555 to 622


Currently I have the ability to pay off all of my credit card debit. My main question is should I pay it in full or pay like $100 a month for the next year or so (no interest for the next 12 months)? My main goal is to raise my score as much as possible. Which way has the best chance of doing that? Also, should I scatter the debt over multiple credit cards? ex. Pay down the citi a little more and add some to the other cards. Does this make a difference?




Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: Looking for advice

Your utilization is still high.  For best FICO results, have all but one card report 0 balances and the other at 9% or below.  Never let them all report a 0 balance.  I would pay them down now.  The longer you wait, the lower your score will remain.

New Member
Posts: 2
Registered: ‎04-28-2013
0 Kudos

Re: Looking for advice

Thanks for the reply Guiness.. I was under the impression that your total utilization you would want to be that number. If I made only one account 9% then my total would be less then 5%. Is that not how it goes?

Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: Looking for advice

[ Edited ]

Say, you have 6 cards.  All of but one of them report a 0 balance and one reports at 9%


1.  0/1000   0%

2   0/500     0%

3.  0/1000   0%

4.  0/1000   0%

5.  45/500   9%

6   0/300     0%


Total balance = 45/4300 = 1.04%   Total utilization is still 9% or under.  YMMV and you can play around with the % to see where you get the best score.

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.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* 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.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on 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.