05-07-2007 09:30 PM
05-08-2007 04:04 AM
Recent inquiries will drop your score. But paying off cards should increase your score. What was your util prior to your last payment?
dennis3 wrote:We currently are refinancing our home and paid off all credit card balances and in turn our score droped 12 points. Is this because of the inquires or because of the 0 balances on our credit cards?We have worked so hard to improve to see it drop was very dissapointing, is this normal and how soon will it raise again?
05-08-2007 04:35 AM
05-08-2007 04:44 AM
Bull32 wrote:I have found that paying off your cards entirely all at one shot will in fact hurt your score initially. If you pay down like 75% or so is better. I believe they say that 7 to 10% utilization is the average.
05-08-2007 02:30 PM
Bull32 wrote:I have found that paying off your cards entirely all at one shot will in fact hurt your score initially. If you pay down like 75% or so is better. I believe they say that 7 to 10% utilization is the average.1-9% seems to be "the sweet spot".
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