I paid down debt by $514 and my EQ shot up +18, so I got my tax return and paid it down another $1500 and zip,zero, ziltch, nothing happened. Please explain to me what happened here?
What type of debt did you pay down? If the first time was CC or LOC and the second it was to an installment loan, that is probably why. If you dropped your uti down on your revolving, you would see an increase. when you just lower the amout outstanding on a loan, theres no reward for that.
Well if the $1500 was put towards CC debt then the cards probably havent reported it to the reporting agencies yet. This ***usually*** happens a few days after the statement is cut.
I checked "accounts" and it has all except 1 account listed w/ "0" balance, yet my scores are the same. I will do as you suggested and give it a couple of days.
If your credit reports have the new balances reported then your score would have taken your payment into account.
What did your utilization look like before/after the first payment and before/after the second payment? It is possible that your first payment crossed an important % utilization while your second payment did not. Is the remaining card with a balance close to maxed out? FICO looks at both individual card utilization and overall utilization.
TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)
I'm working w/ 5 cc. 4 were at 50% utl now w/ zero balance resulting no change. 5th cc $2695 paid down to $2100 which resulted in the +18. I am sure that I have reached the max FICO score available to me because of my BK.
It is possible you have reached some sort of temporary peak. If you don't mind me asking there are a couple of questions which may help or someone else with more knowledge of BK help more. What is the credit limit on the card with a $2100 balance? WHat about your total available revolving credit? How old is the BK?
Cheers
TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)
I have no problem providing as much information as I can, because this site has completely changed my life and if someone benefit from my experience then I'm happy
BK - Discharged September 2006
1st Premier> October 2006 - $250/$0 balance
Capital One> April 2007 - $300/July 2007 - $200 increased/February 2009 $500 LOC/$0 balance
Orchard Bank> July 2007 - $400/February 2009 increased to $800 LOC/$0 balance
HSBC> November 2007 - $1100/February 2009 $1100/$0 balance
CreditCare> June 2008 - $4500/February 2009 $2100 balance
You crossed under the 30% util threshold by going from 2695/6350 to 2100/6950 currently. Two things happened. You paid down balances and you got increases in your CLs to the tune of $600. Now, get under 10% and you should see a nice hop again.
Starting Score: 469