What can of increaseof FICO can I expect?

[Ljm]

I recently paid our CC's down from 78% utilization to 1%.  Score is currently at 605.  Is it reasonable to hope that it will reach 640 by lowering our utilization?  We also had a lost CC account that was closed, but still reporting a $156 balance.  Contacted the company and they are also removing this.  Any input is appreciated!

[DaBears]

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@Ljm wrote:

I recently paid our CC's down from 78% utilization to 1%.  Score is currently at 605.  Is it reasonable to hope that it will reach 640 by lowering our utilization?  We also had a lost CC account that was closed, but still reporting a $156 balance.  Contacted the company and they are also removing this.  Any input is appreciated!

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Depends what is else on your CR's. Charge-Offs? Collections? If neither, going from 78% down to 1% should give you a very nice bump!!

[Ljm]

The only thing else on the report is one collection from 2011.  Going to try and PFD after we close on our house.  I don't want to stir it up until that is done.

[LIGHTNIN]

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@Ljm wrote:

The only thing else on the report is one collection from 2011.  Going to try and PFD after we close on our house.  I don't want to stir it up until that is done.

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Hi and Welcome to the forums,

Are you in the process right now, of buying a home?

Most mortgage lenders will ask to have the CA paid, before starting the loan process.

[finishthesnowball]

Yes, we are. But from what I have researched on here, will they not let you pay that at closing?

[finishthesnowball]

Sorry, accidentally logged in on hubby's account .