Thank you BofA for lowering my credit lines to just a few dollars over and above what I am carrying as a balance. It has helped my FICO immeasurably...NOT. We have a bal of roughly 12K on 2 BofA cards and pay double the min ea month. It will take several months to get these into a low util area. Even making the double min pymts ea month, will our FICO go up a bit ea month or will it be pretty stagnant until we reach a certain utilization ratio? Anybody have a guess?
You will need to get the utilization below 50% before you probably see substantial changes in score. After that you need to get under 35%. So there are certain "thresh holds" that will trigger more gains than others.
Here is a link to info on FICO Score Estimator / Simulator which you can plug in CR items and then change dollar balances to see the FICO effect (will be a 'range' not exact score.)