Understanding FICO® Scoring

[liodane23]

I recently paid down 3 cc from 70% to under 30% and one from 80% to40% would i see an improvement in my Credit score?

[Shogun]

Depends on what else is on your CR, but you could see a bump due to the decrease in util.

[liodane23]

Thanks will let you know my Fico is 706now

[liodane23]

Can anyone add to this currently 3cc @ 27% and other @37% only one negative item from 2003 states closed 0 balance.

[QAMngrGirl]

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liodane23 wrote:
Can anyone add to this currently 3cc @ 27% and other @37% only one negative item from 2003 states closed 0 balance.

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Maybe a stupid question but isn't this too old to still be reporting? 

[Revelate]

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QAMngrGirl wrote:

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liodane23 wrote:
Can anyone add to this currently 3cc @ 27% and other @37% only one negative item from 2003 states closed 0 balance.

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Maybe a stupid question but isn't this too old to still be reporting? 

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Depends on the negative, tax liens or renewed judgements for example but yes most are there for 7-7.5 years give or take.  If the negative is one of those which is supposed to come off after the usual period, disputing as obsolete is recommended.  

[liodane23]

Finally paid down all cc's to about 28% from70/80% utl how long before i will see an improvement in my score?

[OhioCPA]

You should see an improvement when the CC's report the new balances to the CRA's. This will usually take place a few days to a week after the statement is cut.

Regarding the negative from 2003, when did you close that account? If it was a CC it should disappear ten years after closing.