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Contributor
Posts: 83
Registered: ‎03-22-2007
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My Experian just increased 17 points this month

[ Edited ]
    I just wanted to let you all know that after paying down $7,000 in credit card debt in February and paying down an additional $2000 in March, being taking off my wife's gas card as an authorized user, closing my recently opened AMEX card, and not charging anything last month, my Experian profile finally updated increasing my fico score from 650 to 667. 
    Right now my scores are as follows:
 
Exp 667
Tu 662
Efx 663
 
   My scores in February were
Exp 619
TU 636
Efx 647
  
   Hopefully, if I slowly close my recently opened accounts (that I don't need), and continue to get my UTI to 30% on all of my older cards, as well as continue to pay my bills on time.  I should continue to raise my score.


Message Edited by antredd67 on 04-08-2007 09:14 AM
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
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WTG!!!  Just waiting till all my cards post for the month...

[ Edited ]
WTG!!!  Just waiting till all my cards post for the month to see the final tally on my score increases From Jan to last week I'm at a grand total of 60 points +.
 
 Its nice playing the game when you at least know SOME of the rules:smileywink:




Message Edited by Brammy on 04-08-2007 01:39 PM
Valued Member
Posts: 54
Registered: ‎03-15-2007
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Well done!!! Congrats!!!  I'll be posting my own update l...

Well done!!! Congrats!!!  I'll be posting my own update later today when I get my 'official' report from my lender.
Valued Contributor
Posts: 1,088
Registered: ‎03-18-2007
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antredd67 Congrats!!! I am guessing 17 points is the magi...

antredd67
Congrats!!! I am guessing 17 points is the magic number when paying down some of the CC. For the past two weeks I have received 17 point bump-ups for the same reason (paying down debt). Is the a pattern?
If at first you don't succeed... hang up and try again!!
Established Member
Posts: 19
Registered: ‎03-15-2007
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You noticed that too? Yes, there seems to be something ma...



jaybee wrote:
antredd67
Congrats!!! I am guessing 17 points is the magic number when paying down some of the CC. For the past two weeks I have received 17 point bump-ups for the same reason (paying down debt). Is the a pattern?





You noticed that too? Yes, there seems to be something magical about this mysterious "17"... I have had a few score changes that differ by this exact number too, and I believe mine were also due to credit cards reporting with a 0 balance after having a really high UTI.

Hmmm...
Contributor
Posts: 83
Registered: ‎03-22-2007
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Thanks for your point boost info

     Now that we know that there seems to be a pattern by paying more than the minimum payment each month.  When I get my bonus check sometime before July (I hope), I will pay down my highest line of credit balance that its hovering around 70% UTI, getting it finally below 50% UTI. I am sure paying that balance down will get me in the 700 club sooner than I thought, at least I'm keeping my fingers crossed.
Moderator Emeritus
Posts: 273
Registered: ‎04-13-2007
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Re: My Experian just increased 17 points this month

That's funny my score watch came back with an alert that was a double digit increase I think it was just for paying on time and slightly more than the minimum on cc. I'm still waiting for the effects of the massive paydown I did a few days ago.
Established Member
Posts: 17
Registered: ‎03-25-2007
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Re: My Experian just increased 17 points this month

Paying down balances really helps a lot. I have a relatively short credit history, I opened up 3 CC acounts last november and have been charging them up/paying down. Last month I was at 90 utilization, I paid all down to zero and had about 8% utilization when teh companies reported. Going from 90% to 8% had the following effect.
 
Exp: 607 to 665
Efx: 653 to 680
TU: 643 to 695
 
Kind of amazing.
deb
New Visitor
Posts: 4
Registered: ‎04-17-2007
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Re: WTG!!!  Just waiting till all my cards post for the month...

My mortgage banker advised me NOT to close any accounts as this might cause my credit score to go DOWN, however, at one point the balances were too high, he said to pay them down, and I paid $5,000 to $10,000 on each of them and the score went back up. My score seems to linger right around 650. How do I bring it up? What are the best steps to take to increase a FICO score?:smileyhappy:
New Visitor
Posts: 4
Registered: ‎04-17-2007
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Re: WTG!!! Just waiting till all my cards post for the month...

The best way to increase your score is time. Pay more than the minimum due each month. If you are required to pay down 35.00 then pay 75.00... always pay more than the minimum due. Closing accounts does flag and can decrease your score. Stability is the most important followed by low balances. Do you have any "yucky" older debt you can work on ridding your report of? If you have an account that is 6+ years old and it is a not so hot one you can dispute based on timing. They say 7 years since last activity but sometimes they will take them off your report sooner. Does not hurt to try!
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