06-13-2013 06:25 AM
Desperately need your advice.
The amount owed on your revolving accounts is too high. - $25745
You've recently been looking for credit. - 4
You've made heavy use of your available revolving credit. - 39%
Current FICO - 706
the mortgage company's credit pulling dept coreLogic pulled my report 4 times, OCT 2012, Feb 2013, March 2013
i applied for Credit in Nov 2012.
My score before the last inquriy was 722. And i had 8 accounts carrying balances.
Now i've paid if 3 of 8, and have just 5 of them at around 49% individual util, and 34.2% overall Util
but my score is not moving up at all!!!!!!!! i used 4000 cash to pay off my 3 accounts.
06-13-2013 11:03 AM
34% overall util is very high. When paying down CC debt, my biggest gains in FICO came when my util moved from 30% down to the single digits. FICO also dings you if most of your accounts are carrying balances. IMO, pay off the smallest balances first.