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Moderator Emeritus
fused
Posts: 16,378
Registered: ‎03-12-2007
0

Re: Score impact of going from 89% util to <10%

No hard on TU and no TL on any report. What is with LC???:smileyindifferent:

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: Score impact of going from 89% util to <10%


fused wrote:

No hard on TU and no TL on any report. What is with LC???:smileyindifferent:


I can't complain! :smileyvery-happy:

Moderator Emeritus
fused
Posts: 16,378
Registered: ‎03-12-2007
0

Re: Score impact of going from 89% util to <10%

I suppose you're right!:smileyhappy:

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Regular Contributor
GordonShumway
Posts: 210
Registered: ‎04-01-2009
0

Re: Score impact of going from 89% util to <10%

 


llecs wrote:

Well, with 15 new TLs added within the past 3 yrs, I'd had some time to think about it. LOL. Hopefully the new TL reporting won't coincide with a balance update.


 

Holly C**p!! That's roughtly a new one every 2 months?

How did you manage it?

You must be tending to your garden :smileywink:

Kudos,

 

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: Score impact of going from 89% util to <10%


GordonShumway wrote:

 


llecs wrote:

Well, with 15 new TLs added within the past 3 yrs, I'd had some time to think about it. LOL. Hopefully the new TL reporting won't coincide with a balance update.


 

Holly C**p!! That's roughtly a new one every 2 months?

How did you manage it?

You must be tending to your garden :smileywink:

Kudos,

 


I started with a bunch of baddies and 0 CCs. I actually added 17, but closed my first two last year (Credit One and Orchard), dropping it to 15. I opened my first 7 (including the two now closed) within the first 4 or so months of repair/rebuilding (Macys, Bloomingdales, Credit One, Orchard (partially secured), Target, BofA (partially secured), and Junny). 8-9 months later, I opened National City (now PNC). By 12-14 months, I opened HSBC Direct, Macys#2, Macys#3, and Wachovia. At 18 months, I opened CapOne. At nearly two years, I opened Amex, Discover, and Penfed LOC. Finally my last was a sucker card for a BB store card and that was at 2.5 yrs. I've been app free since December and plan to hang up the trigger finger for a while.

 

Managing them is relatively easy. I religiously check my balances every 7-10 days and keep a spreadsheet. I pay 1x per week on Mondays and pay all the CCs that are due up to the following Monday. I study that spreadsheet several times per week and had always kept around 1/2 of the balances at $0. Because of DSNB's actions and the CLs, I stopped using the MAcys and Bloomies so 4 will die a natural death. I don't care any. Target hasn't been used in months now so that's on the way out. Same goes for Junny, CapOne, and BofA. I plan to scale back to Amex, Discover, Wachovia (now WF), PNC, Penfed, and will keep open a store card for good measure. After we get a mortgage, then I'll look at a CU somewhere other than Penfed.

 

TMI...but writing these goals helps me, IMO.

New Member
prettyricky
Posts: 3
Registered: ‎05-13-2009
0

Re: Score impact of going from 89% util to <10%

great! thanks for the info-it has been very educational for me!

Regular Contributor
kal9988
Posts: 168
Registered: ‎07-10-2010
0

Re: Score impact of going from 89% util to <10%

whenever I have a $0 balance on a CC and I use that card and it reports a balance, my score goes up a few points.  this is so confusing.

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: Score impact of going from 89% util to <10%


kal9988 wrote:

whenever I have a $0 balance on a CC and I use that card and it reports a balance, my score goes up a few points.  this is so confusing.


Is that your only CC?

Regular Contributor
kal9988
Posts: 168
Registered: ‎07-10-2010
0

Re: Score impact of going from 89% util to <10%

nope, I have 4 CCs plus one store CC. 2 are 90% until, the other 3 stay low (i try to keep a small balance on each)

Valued Contributor
ptr2593
Posts: 1,486
Registered: ‎08-14-2011
0

Re: Score impact of going from 89% util to <10%

Only now reading this thread but it's incredible how quickly your TU/EQ went up just by lowering your UTL.

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