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That two old charge off CCs from 4 years ago were still affecting my Revolving credit. I just assumed as soon as they were charged off that it
wouldnt affect it anymore. So sad to find out im at 149% :/ No wonder i havent been able to get another CC. My scores now are TU 547 and EX 552
How big of a jump should i expect to see once both are at a 0 balance at the end of the month?
I would say a good bump. Do you have any more revolving besides those 2 COs?
Get a secured card if you do not already have one. I had several charge offs paid them all off and my score all went up as soon as i got my secured card.
Nope. Only 1 auto loan. Jeeze does this make me feel dumb! I would of paid these off YEARS AGO.
Im assuming i need some type of revolving credit though. I will be getting the USAA Secured credit card this month as well.
It depends on what else is affecting your credit score. I had two CO's that were affecting my score, in addition to multiple collections. When I paid one of them off, it drastically reduced my utilization from over 150% to less than 60%, but I only experienced an increase of 10 or 15 points (I forget exactly how much). YMMV.
going from 149 to 0 i would think at least 30 points or more..
But would going down to 0 instead of 7-9 percent be worse?
You are gonna see a huge jump.
@Bleety17 wrote:That two old charge off CCs from 4 years ago were still affecting my Revolving credit. I just assumed as soon as they were charged off that it
wouldnt affect it anymore. So sad to find out im at 149% :/ No wonder i havent been able to get another CC. My scores now are TU 547 and EX 552
How big of a jump should i expect to see once both are at a 0 balance at the end of the month?
Just curious. You have your scores listed as TU and EX. Would you happend to mean EQ? EX hasn't sold their score to the consumer since Feb 2009.
Does this apply to anything that is charged off, or just credit cards?
For instance I have a school reporting a charge off with a past due balance, is this factoring into my utilization?