Equifax increase

[Anonymous]

My EQ increase from 628 to 644 just two days after I paid off my ca,r and clear small CC ( 300$) from 201$ to zero.

I wonder what make more impact.

Long way to go for me ; 19 000 $ debt on four CC and two store cards 

By the way, My transunion was 669 a month ago.

[MarineVietVet]

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@Anonymous wrote:

My EQ increase from 628 to 644 just two days after I paid off my ca,r and clear small CC ( 300$) from 201$ to zero.

I wonder what make more impact.

Long way to go for me ; 19 000 $ debt on four CC and two store cards 

By the way, My transunion was 669 a month ago.

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Paying down credit card debt has more positive impact than paying down installment loans.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 10/10-774
You can do the same thing with hard work

[Anonymous]

Thanks for your reply. So, paying off my small cc make all this? While car was not that much important?

[MarineVietVet]

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@Anonymous wrote:

Thanks for your reply. So, paying off my small cc make all this? While car was not that much important?

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Yes because the utilization on your credit card went from 67% to zero and that can mean quite a few points. I think that's probably the reason for your score increase.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 10/10-774
You can do the same thing with hard work

[RobertEG]

Iztok, FICO does not score based on "liitle" or "large" credit limit cards. It scores on the basis of your % util of whatever the CL is.

So going from 67% util to 0 is huge in scoring of that card.

Installment loans have no where near the FICO scoring risk as revolving (credit card) util.  % util on an installment loan is a relatively minor scoring factor.

I have littlle doubt that the payment on the CC had significantly more impact than the installment loan.

[Anonymous]

My score today went up to 671 

Just 20 days ago was 628, and pay off car and small CC from 295$ out of 300$ to zero; and as i report first went up to 644, and today to 671. 

Don't know what is going on, but yes i am happy