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High Balance to Limit

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tcham54687
New Contributor

High Balance to Limit

Does the highest balance that you have ever had on a CC account continue to have negative impact after the balance is paid down/off? I maxed out my cards 6months ago but I'm in the process of paying them down to below 10%.
 
 
APR 25, 2008 FICO TU:668/EX:654/EQ:642
Jun 05, 2008 FICO TU:698/EX:697/EQ:709
Aug 01, 2008 FICO TU:724/EX:741/EQ:749
Mar 15, 2013 Fico TU 725/EX 677/EQ/735 (EX has a $60 collection...#$%^ me)
Apr 7, 2013 FICO TU 756/EX 747/EQ 771
Message 1 of 4
3 REPLIES 3
Junejer
Moderator Emeritus

Re: High Balance to Limit

Nope, there is no memory of that as it pertains to FICO scoring. Clean slate every reporting period.






Starting Score: 469
Current Score: 849
Goal Score: 850

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Message 2 of 4
tcham54687
New Contributor

Re: High Balance to Limit

Thanks, I was hoping that was the case.
APR 25, 2008 FICO TU:668/EX:654/EQ:642
Jun 05, 2008 FICO TU:698/EX:697/EQ:709
Aug 01, 2008 FICO TU:724/EX:741/EQ:749
Mar 15, 2013 Fico TU 725/EX 677/EQ/735 (EX has a $60 collection...#$%^ me)
Apr 7, 2013 FICO TU 756/EX 747/EQ 771
Message 3 of 4
Junejer
Moderator Emeritus

Re: High Balance to Limit

Yep, just remember that whatever balance you have when the statement cuts is what's going to be reported to the CRAs.






Starting Score: 469
Current Score: 849
Goal Score: 850

Take the myFICO Fitness Challenge
Message 4 of 4
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