Reply
Valued Member
Bangs21
Posts: 27
Registered: ‎10-13-2009

Paying down utilization

[ Edited ]

Current Score(3/30/13): EQ: 578 -- TU: 621 -- EX: 628
Goal Score: 760

 

With my current scores and a 96% Debt to Credit Ratio on revolving account. 5 accounts totalling $14,377.

If i make a one time payment of 13k  how big will my score jump?  any suggestions?

Bangs


Starting Score(6/12/09): EQ: 557 -- TU: 539 -- EX: 579
Current Score(4/7/14): EQ: 677 -- TU: 737-- EX: 692
Goal Score: 730

Valued Member
Bangs21
Posts: 27
Registered: ‎10-13-2009

Re: Paying down utilization

I am thinking i might a see a 100 point jump.


Starting Score(6/12/09): EQ: 557 -- TU: 539 -- EX: 579
Current Score(4/7/14): EQ: 677 -- TU: 737-- EX: 692
Goal Score: 730

Established Contributor
DiabolicallyRandom
Posts: 775
Registered: ‎03-09-2013

Re: Paying down utilization

It really will come down to what else is on your report. There is no way to really predict. Everyone seems to have different results.

Blogger
HiLine
Posts: 2,723
Registered: ‎10-19-2012

Re: Paying down utilization

Blogger
HiLine
Posts: 2,723
Registered: ‎10-19-2012

Re: Paying down utilization


DiabolicallyRandom wrote:

It really will come down to what else is on your report. There is no way to really predict. Everyone seems to have different results.


If the rest of the OP's credit profile were messy the cards would've been CLD'ed I think.

Valued Member
Bangs21
Posts: 27
Registered: ‎10-13-2009

Re: Paying down utilization

I only have 2 30 day late on amex  in oct of 2012 and one 30 day late on my BOA cc.

Only baddies on my report.


Starting Score(6/12/09): EQ: 557 -- TU: 539 -- EX: 579
Current Score(4/7/14): EQ: 677 -- TU: 737-- EX: 692
Goal Score: 730

Established Contributor
DiabolicallyRandom
Posts: 775
Registered: ‎03-09-2013

Re: Paying down utilization

I think you will have a significant increase, but I imagine those lates are still leaving a pretty big mark since they are only about 6 months old. Congrats on paying down that large of a chunk of utlization though! 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+