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@nyankovic wrote:
If I pay my util down from 120% to 0, I know the score will increase, but will it continue to increase over time because of not utilizing the credit or is it a lump sum of points?
Just don't leave it at 0% utilization. FICO likes to see some activity on the account. I use my cards monthly to pay recurring bills and also pay in full each month.
(myfico)
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
CC interest free as of 8/09
Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".
@nyankovic wrote:
If I pay my util down from 120% to 0, I know the score will increase, but will it continue to increase over time because of not utilizing the credit or is it a lump sum of points?
Once you have achieved optimal UTIL and your score stabilizes at a new point assuming all else remains equal further improvements would be gradual and based on the effect of the passing of time.
@MarineVietVet wrote:
@nyankovic wrote:
If I pay my util down from 120% to 0, I know the score will increase, but will it continue to increase over time because of not utilizing the credit or is it a lump sum of points?Just don't leave it at 0% utilization. FICO likes to see some activity on the account. I use my cards monthly to pay recurring bills and also pay in full each month.
(myfico)
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
CC interest free as of 8/09
Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".
As long as your cards remain active (do not become dormant) and you report one small balance that is enough for FICO purposes. Issuers want to see activity. Non-activity invites closure for disuse.