Please forgive what I'm sure is often asked question. I'm still rather new, only posted once in past before posting yesterday & this morning.
It's just I'm so anxious to improve my score after climbing my way up from a really black hole. I've looked in the forum doing a search on 'utilization' but didnt find exactly my question yet and I'm still confused!
Do major credit cards and store cards carry different weight as far as scoring? And is utilization the total owed against your total CL or is it computed per card and then averaged?
I have 2 majors that I plan to pay down to 10% or less over the next 6-12 mos (CL1390/1000 owed & $1150 CL/1000 owed). Have 5 store cards: $880CL-owe 300, 670CL--owe $36, $500 CL, owe 0, $250 CL, owe 0 and $200 CL, owe $100. If all added together, seems to me I should see score improvement after paying down $1200 for a 25% UT. Or will I need to get the majors paid off or to 10% before I see improvement? BTW, My Scorepower shows 'not good' for utilization.
Thanks for any help and advice!
FICOS: TU 732(05-16-16) EQ '08 739( 05-16-16) EX 737 (08-17-16)