tcbofade wrote:
That is a GREAT post, but somehow, it doesn't seem to apply to me.
I have both a "clean" and a "thick" file on all three cr's.
(no baddies, no lates...45 accounts listed)
I'm stuck in the low 600's due mostly (I think) to utilization.
I think you are exactly right - high utilization is a killer to good scores.
My credit profile is very close to yours (60+ accounts, no baddies, no lates, AAoA around 5 yrs, etc.). I started out in Jan '12 with scores in the mid 600s and an overall utilization on my revolving debt of around 80%. I am currently down to about 50% overall utilization, and my scores are now high 600s (EQ - 680 and TU - 699).
I don't know how accurate the myFICO score simulator is, but it is projecting that if I can decrease my revolving debt to less than 10% utilization within the next 12 months, my score will be in the 755 - 805 range. This would be awesome if true!
Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???