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I just got a 39 point bump in my Credit Score I want another 50 Help me in right Direction

Regular Contributor

Re: I just got a 39 point bump in my Credit Score I want another 50 Help me in right Direction

Oh my gosh I will let you do it while I practice ?

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 9-29-15 - (Experian 800 FICO-8 - (Equifax 798) - ( Transunion 808 )FICO Goals: 820-830 For all 3 or above
Ultimate Fico 850 x 3 Even if for a week Just to say I crawled out of the sewer and trust me it was the pits. I could not borrow a cent
Message 11 of 22
Epic Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

Message 12 of 22
Regular Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

Credit Karma gives me a 0% utilization now but I have a couple of charges that should post tonight on a credit card with 2000 less than 100.00 balance now. All others are zero balance. I am trying to find what it was before my payments.

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 9-29-15 - (Experian 800 FICO-8 - (Equifax 798) - ( Transunion 808 )FICO Goals: 820-830 For all 3 or above
Ultimate Fico 850 x 3 Even if for a week Just to say I crawled out of the sewer and trust me it was the pits. I could not borrow a cent
Message 13 of 22
Epic Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

From what you gave your utilization before pay off was 24%.  Not too bad but still kind of high.

 

After paydown/off it should be 1.1% which is excellent.  Not sure how many points you will get but I'd say at least 20.  Depends on your entire profile.

 

Do you have more CC you didn't list?

Message 14 of 22
Regular Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

I have these 

 

Capital one $777.00 out of $2000 Utilization before payment was ?? but now 4.07% only card with a balance of 81.00 now

US AIR $1507.00 out of $4800 Utilization before payment was 30.25% now zero 

Paypal $953.00 out of $2700 Utilization before payment was 35.30% now Zero

credit one  $213.00 out of $550 Utilization before payment was 31.27 % now zero

JC Penny $8.48 out of $900 Utilization before payment was .089% now zero

 

 

So I paid more than I thought. this is a clear snap shot of what it was this past month and what it will be when it reports next week.

 

Thanks 

Steven

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 9-29-15 - (Experian 800 FICO-8 - (Equifax 798) - ( Transunion 808 )FICO Goals: 820-830 For all 3 or above
Ultimate Fico 850 x 3 Even if for a week Just to say I crawled out of the sewer and trust me it was the pits. I could not borrow a cent
Message 15 of 22
Epic Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

Ok now I recalculated.  It was at 32% it would now be .73%.  Not sure that will be rounded up to 1 or not.

Message 16 of 22
Regular Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

So do you think I can manage a 40 point bump from doing this ?

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 9-29-15 - (Experian 800 FICO-8 - (Equifax 798) - ( Transunion 808 )FICO Goals: 820-830 For all 3 or above
Ultimate Fico 850 x 3 Even if for a week Just to say I crawled out of the sewer and trust me it was the pits. I could not borrow a cent
Message 17 of 22
Epic Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

It depends on what other negatives are on your report.  But, typically, I would say 10 points for every 10% paid down.

Message 18 of 22
Regular Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

Only negatives are 2 inquiries back in 2012. No collections or anything like that. 128 payments of pure on time with credit cards. Only other thing there is an installment loan older than 1 year but paid on time like clock work. It is from a finance company and wish I had got it from the bank instead. I read here where lenders do not like to see a finance company on your report. I am trying to gather data wheather I should pay it off or leave it and pay it perfect on time for the installment history.

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 9-29-15 - (Experian 800 FICO-8 - (Equifax 798) - ( Transunion 808 )FICO Goals: 820-830 For all 3 or above
Ultimate Fico 850 x 3 Even if for a week Just to say I crawled out of the sewer and trust me it was the pits. I could not borrow a cent
Message 19 of 22
Epic Contributor

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

You may get a few points for paying it off.  Even paid off it will still be a negative for being a Consumer Finance Loan.  If you only have one it shouldn't be too bad.  It is when you have many more that starts to be an issue.

 

Those type of companies are looked at badly due to the fact that they are considered to be for consumers that can't get anything else.

 

Do you have any other installment loans?

Message 20 of 22