10-09-2013 10:32 AM - edited 10-09-2013 10:33 AM
I've already pulled my own CRs. All balances and CLs are correct in the trimerge.
The FAKO scores are much, much higher on my CRs but I guess that's not uncommon.
10-09-2013 10:37 AM
10-09-2013 10:41 AM - edited 10-09-2013 10:48 AM
yes, but did FICO use the credit limits of the closed revolving accounts with outstanding balances in its calculation of my util?
10-09-2013 10:48 AM - edited 10-09-2013 11:02 AM
10-09-2013 10:53 AM - edited 10-09-2013 10:56 AM
So then theoretically, when thes balances of these closed accounts update on my CRs as 0, the credit limits will no longer be used in the utilization calculation and my utilization won't change at all, hence, no score change.
This is my fear.
10-09-2013 11:00 AM
10-09-2013 11:03 AM - edited 10-09-2013 11:05 AM
I understand that.
So from what you're telling me it was pointless to pay off these 3 accounts as it will have no effect on my credit score.
10-09-2013 11:06 AM
10-09-2013 11:08 AM - edited 10-09-2013 11:10 AM
From my calculations, even though I paid off $25k worth of debt my utilization will not change and therefore the scoring (most important to me right now) will not change. This is what I am taking away from this thread. Is that safe to assume?
10-09-2013 11:17 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.