I'm brand new to MyFico.com and this forum. My Eq score is 547 and my TU is 584. TU is showing a Revolving/Open balance of $2176.00 and Eq is showing a Revolving/Open Account balance of 3166.00. This is all bad debt and is all I have left out of about $10,000 of negative credit card activity. My question is this, I was using the Score Simulator for both Equifax and Transunion and if I paid $1200 towards the bad debt, would it boost my score? After tinkering with the simulator it showed it would but seeing as this isn't really revolving credit anymore I'm just not sure. I do know that my credit utilization is currently 725% because of the balances remaining on the closed accounts, so maybe the boost is taking that into account? I currently only have one secured credit card with a $300 limit and utilizing about 4% of that a month.
Here is what is showing after the $1200 payment to each:
Equifax: Currently 547 with a bump from 557 -597
Transunion: Currently 584 with a bump from 584-604
Thanks!
