Understanding FICO® Scoring

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
New Contributor
tblank65
Posts: 53
Registered: ‎02-23-2009

% util question

Options

‎11-02-2009 07:05 AM

from reading here...I take that under 9% is pretty good and100% is a number killer...but what about 30% to 50%? is there a big gain from a 100 to 50?...or 50 to 9?
Message 1 of 2 (653 Views)
 
Reply
Contributor
XAVIERSMAMA
Posts: 169
Registered: ‎02-09-2009

Re: % util question

Options

‎11-02-2009 08:27 AM

My experience has been that I've received a pt increase each time my util reported lower than the previous month.  I'm not sure if there is a correlation between how many pts you gain vs. the util percentage change though.  Just keep paying until you get all revolving to 0 except for 1 and have that 1 report between 1% and 9% for ideal scoring.

Message 2 of 2 (630 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+