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FICO score estimates after paying off CC's? What kind of jumps did you get?

FICO score estimates after paying off CC's? What kind of jumps did you get?

Hey everyone, happy new years eve!

I used to have a fico score of about 750-760 for both Equifax and Transunion, but after using a lot of my personal cards for business use (I know, dumb) I've racked up a lot of debt but now I'm paying it off for the most part (I already opened a few new business cards and I've gotten everything in order) BUT I'm focused on my scores now.

 

I just made these payments as of a few days ago, and today:

Discover - $12,000 owed / $13700 limit - Paid to $0 
Chase: $4700 owed / $20,000 limit - paid to $0
Citi card 1:  $1486 owed / $14000 limit - paid to $0
Bank of America - $2900 owed / $5000 limit - paid to $0

I have about 10 cards total, but the remaining cards have 0 balances so I'm not including them. I just paid all of those cards after reporting with a balance for over a year. 


Before: $30,000 out of an available $74000

After: $9760 out of an available $74000

 

FICO Before debt paid : 690

FICO after: ??????

Thanks everyone!

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Contributor

Re: FICO score estimates after paying off CC's? What kind of jumps did you get?

You got it down from 41% utl to 13% utl so you should get a big jump. We won't know how much but I wont be suprised if you'll get up to at least 720ish. I believe you'll get the biggest jump if you get it down to 9% utl.

Starting Score: 2/22/12: EQ 530, TU 553, EX 528(lender). 12/4/12 (rebuilding starts)= EQ 599.
Current Score: 1/4/16: EQ 743, TU FICO 724, EX 737.
Goal Score: 750 all across.

Take the FICO Fitness Challenge

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