Reply
New Contributor
jamiii
Posts: 54
Registered: ‎08-03-2009
0

Credit score increase guess.

First I understand that there are a million factors in play here, BUT....I have 3 cards.  2 very small limit cards that are at 0 balance and one other card (I'm an authorized user on wife's card) with a $11,000 limit with a $8500 balance.  I just put a $3300 payment on the card to get it down to $5200.

 

 

Any guesstimate on what my credit score will do?  Going from a 75%ish util. to a 45%ish util?  It's got to go up a little right?  I'm looking at 611 and 612 scores thru MyFico now and a 647 WalMart TU.

 

 

 

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
0

Re: Credit score increase guess.

[ Edited ]

75% to 45%...guessing 20-25 on the high side. Take a look at your FICO report. If util is listed in the #1 slot [for things that help/hurt your FICO on pages 2&3 of your FICO report] then you stand to see more of a gain. If util isn't in the #1 slot, then any gains would be less.

Frequent Contributor
basballguy
Posts: 360
Registered: ‎02-20-2008
0

Re: Credit score increase guess.

My utilzation went from 81% to 5% and i went up 27 points on Equifax and like 70 points on TU.  So who knows. 

 

I would say you'd get 15 points or so. 



myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+