Understanding FICO® Scoring

[anthill927]

Hello everybody! this is my 3rd post on here and I love when I get replies because it helps me. I had put alot of money on my credit cards in the middle towards the end of october for my mothers funeral, and score took a dive. they were in the  620s. I paid them all off except 1 like 2 weeks ago, before alot of them were due so it will show up there they are PIF. How long before that is reflected on the credit report? I decided to check yesterday and my score is still the same and Many of my new statements have been updated with a zero balance now, hence they were due on like the 24th or the 25s. I used the what if simulator and it said my score should shoot up to the 690s to the 700s, I just want to know when. I would Like to ask for CLIS on them because before this site, I never asked for one on most of my cards and I have had most of them for over 2 years, so I think I should be approved. IF you wwant me to go into more detail about my credit I will. Thanks in advance for the replies!

[Swapmeet]

You should see your jump as soon as they report your balances, which is usually a few days after the end of your billing cycle. Look on your statement for the statement closing date, then add 4 -6 days and you should have it. Of course, different cards may have different reporting philosophies so YMMV.

[anthill927]

Okay thanks, most of them are reporting zero balances like on friday and monday but today is thursday and I see no update, maybe I need to be patient but its hard. lol

[Repo-ed]

The reporting of $0 may not give you a score increase.  Might even see a score decrease.

[bahbahd]

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Repo-ed wrote:

The reporting of $0 may not give you a score increase.  Might even see a score decrease.

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Not if if there is utilization on another card. Now if you paid all your cards down to $0, you might see a slight drop. Ideal goal is to have 9% utilization of total CC limits. I have heard it is best to be on one card only, but I think a few % across several cards still works.

[anthill927]

I still have another card to pay, and I have a closed macys account I am paying on every month, and paypal. they still have balances but all the other ones I paid in full, so I shouldnt have paid them in full??

[anthill927]

See I never knew this thanks, because I thought it was best to not have balances.

[bahbahd]

Reporting of 9% utilization demonstrates responsible usage of credit lines. 

[anthill927]

Okay I have a total credit of 20,651 and out of that I have used 4800. Or thats what I have to pay off left. Should I leave it like that?  I still want to ask for CLI.

[llecs]

OP, are you looking at FICOs or FAKOs?