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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!
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.
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
The reporting of $0 may not give you a score increase. Might even see a score decrease.
@Repo-ed wrote:The reporting of $0 may not give you a score increase. Might even see a score decrease.
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.
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??
See I never knew this thanks, because I thought it was best to not have balances.
Reporting of 9% utilization demonstrates responsible usage of credit lines.
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.
OP, are you looking at FICOs or FAKOs?