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Regular Contributor
Posts: 197
Registered: ‎07-26-2012
0

Does the timing matter?

In calculating FICO score, does the timing matter? Consider these 2 scenarios:

1) Currently I carry a balance of $5,000 & my utilization ratio is 70%. Every month I pay the minimum balance & my utilization after 2 years is 60%. At that time, I pay off almost the entire balance & bring my utilization down to 2%.


2) Currently I carry a balance of $5,000 & my utilization ratio is 70%. I paid off almost the entire balance today & bring my util down to 2% today. I keep my util at 2% for 2 years.

After 2 years, will my FICO be the same? Assume all other factors stay the same i.e no impact of inquiries, no payment delay etc.

P.S: This question is very important for me so please answer only if you're sure. Thanks!
Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Valued Contributor
Posts: 1,966
Registered: ‎04-07-2009
0

Re: Does the timing matter?

There is no exact answer to that question.because there other factors to be considered.

Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011

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