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I wanted to start this post simply to help others who may be in a similar situation. I have been experimenting a little with utilization and paying down debts. First things first, Utilization. If you have multiple cards, pay off your smallest credit card balance first. I had two credit cards, one with a limit of $1500 and another with a limit of $3500. My utilization was about 88%. My first month, I paid about $600 off of the $1500 card bringing it's utilization down to about 50%. This gave me a big score bump. It also triggered a CLI on the card. The next month, I kept the balances about the same, charging more to the smaller card but paying down the large card. There was actually a decrease in my score although my total utilization was the same. Lesson learned, pay off one card if you can and then start chipping away at the larger balance.
Another common piece of advice you hear is if you can't settle with a PFD, perhaps you shouldn't pay the bill at all (unless you are looking at getting a mortgage soon). Although this is largely true, some creditors report your debt as an installment account. I owed $380 to Verizon. I decided to pay it. In theory my credit should have not improved any, however it resulted in a 9 point credit boost. Your mileage may vary of course.
I will post any additional information as it comes up. Please feel free to share any other tips you may have.
Perhaps installment account isn't the correct term for it. They reported it similarly as they report credit card debt, and it was a $380 anchor on my utilization. Can anyone explain this and help me here? I am in a tricky spot right now, I can't really dispute much because I am planning on financing a home later this month, hopefully.