Fico score increase

[Anonymous]

I have combined Revolving/Open Account balance of $490 and I need my fico score to increase about 50-60 points.  If I pay it down 50% or more, is it possible to see my score increase the 50 points I need?

Paul

[marty56]

What is your total % util?  going from maxed out to 9% could get you close.

[Anonymous]

If that represents nearly 100% of your credit limit then you would get 50-60 for bringing it down below 9%, but if that is a smaller percentage you are not likely to come close to 50-60 points. Why do you need to raise it that high so quick? Are you applying for a mortgage in the near future?  You might receive better advice on how to make your non-FICO factors look better under manual review over on the Mortgage Loan board.....or auto advice on the auto board.

[Anonymous]

Better yet, if you are looking to buy a house, wait. Work on improving your FICO score, and watch housing prices continue to fall.