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FICO score movement

SOLVED
Established Member

FICO score movement

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?
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Senior Contributor

Re: FICO score movement

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.)

 

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=60929

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
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