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Are you sure that your paid off cards reported already to the bureaus?
Where are you pulling your FICO8 scores from?
Hard to make a forecast without knowing how many open credit card accounts you have total and what your highest utilization still is on any one account.
13% overall utilization is good but there isn't an obvious breakpoint reported for many until you're below 8.9% overall utilization.
In addition, 13% overall utilization could mean you are maxed out on one card but $0 or close to $0 on the rest, and the maxed out card could be keeping your scores down.
So my questions are:
@Anonymous wrote:
Hi,
I have 3 open credit cards with 0 balance. The remaining credit card has a 13% utilization.
Thx
It looks like you went from 3 of 4 cards reporting a balance. I suspect your aggregate utilization now is around 3% with 1 card at 13%. Given your Fico 8 did not change, I would guess your aggregate utilization was already below 9% prior to paying off the two cards.
I don't see a change in Classic Fico 8 score between 1 of 5 cards and 5 of 5 cards reporting (AU card excluded). However, I do see score changes on my Fico mortgage scores when I go over 50% reporting balances - most pronounced on EQ.
Since you went from 75% (3 of 4) cards reporting balances to 25% (1 of 4) reporting your mortgage scores should have gone up. It's completely a guestimate but your Mortgage Fico score increases may be in the range of:
1) EQ Fico score 5 (Fico 04 model) => 20 points
2) TU Fico score 4 (Fico 04 model) => 10 points
3) EX Fico score 3 (Fico 98 model) => 5 to 10 points
Please report back on what you actually see.
Side note: A single card reporting 13% UT should have no negative impact on Fico 8 or Fico mortgage scores compared to reporting a trivial balance that represents less than 1% of the card's CL. The only exception would be if the 13% balance is high enough to result in an aggregate utilization of 9% or higher.