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FICO score: how long does it take to increase?

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MarineVietVet
Moderator Emeritus

Re: FICO score: how long does it take to increase?


@Anonymous wrote:


 

So folks,

             I just got a new card,my only one in 7yrs,not by choice.lol   Its a $1000 limit, havent recieved my first bill yet. Am I to understand that I should pay any balance charged to the account PRIOR to getting my bill? 

 

I cant do that obviously this month since I dont know where my bills are going or what the cut date is but I charged $250 to the card and thought if I paid the bill in full I was ok on my utilization. But now Im reading and it sounds like I need to pay it before the bill is sent to me,is this correct?  I have a visa  Thank you


It depends how much utilization you want your card to report each month. If you want it to be always zero then PIF before the statement posts and the balance of zero is what will report to the CRA's. If you'd like $25, or $50. or whatever amount to report (preferably 1-9% utilization) then wait for the statement to post and then PIF before the due date to avoid finance charges.

 

You can call your CCC and find out when the statement posts each month.

 

 

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work.

 

Message 21 of 23
Anonymous
Not applicable

Re: FICO score: how long does it take to increase?

Thank you much Smiley Happy
Message 22 of 23
Cstl05
Contributor

Re: FICO score: how long does it take to increase?

So Amex put in a recon for me, should know within 24-48 hours.  I also called chase for their freedom card that I wanted to recon, and I was able to get it at the cost of me canceling my amazon which has been open for 2 years, but honestly could use the freedom more for its benefits.  How long will this effect my credit score?  Did I do any significant damage by closing my amazon with them?

 

Also, Eq shows my oldest account to be 18 years old, and that is what my bank told me, but that is just as an authorized user, I did not know they do not take that in to account.  Or does that vary for different CCC's?  So actually my oldest account would be 2 years old if AU's are not taken into consideration, but it must be a CCC policy, because my Eq doesnt show that?

 

Thanks.. 

Chase Sapphire Reserve/Chase Sapphire Preferred/Ritz Carlton/Chase Freedom/Amex Blue Cash/Discover IT/Capital One Quicksilver/Bank of America Cash Rewards/Citi Costco/Citi Double Cash/Barclay Apple Rewards
Message 23 of 23
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