Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
From 117% utilization to 1%...My scores' increase
[ Edited ]

Last month I had a utilization of 117% :smileysurprised:...Now it's at 1%. My score at the time was 657 for TU... How much of an increase should I expect? Any guesses? I'll post the results when I see them.

 

Hint: I have no baddies with one revolving line and AAoA is 1.5. My revolver is 3 years old. I've had 5 inquiries since then (being dumb).

 

Edit: Fixed numbers.

Valued Contributor
my-own-fico
Posts: 1,299
Registered: ‎01-05-2010
Re: From 110% utilization to 1%...My scores' increase

200 points? I don't have a clue; it depends on lots of stuff. What takes your AAoA down? You had just that one credit card, you said?

 

You said something about high balance and utilization being a snapshot in time. Yes to with FICO, but CCCs may view it differently.

 

Are you living within your means?
Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
Re: From 110% utilization to 1%...My scores' increase

Ok. So are my historical balances listed on my credit report? If so, that's a bummer. How long do they stay on there? My student loans bring down my AAoA. I'm still in school and don't need to pay them off yet.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
Re: From 117% utilization to 1%...My scores' increase

If you only have one CC then the impact would be much lower than if you had a good mix of credit with 3 or more CCs. Now you're over the limit and getting below 100% will return some points. Getting from below 100% down to 1% counts too. I'd guess 40. If you had 3 or more CCs, and got overall util down to that, then I'd guess 130+ on EQ and less on TU. The biggest indicator aside from mix is on your FICO reports. If util is listed in the top 1 or 2 slots in items that hurt your score the most, then you stand to see bigger gains.

Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
Re: From 117% utilization to 1%...My scores' increase

Yeah, it's listed on top of everything (even history), so hopefully I will see big gains. A 700+ score would be pretty nifty.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
Re: From 117% utilization to 1%...My scores' increase

I think hitting 700 is possible.

New Member
eyeruh
Posts: 2
Registered: ‎10-09-2012
Re: From 117% utilization to 1%...My scores' increase

You could get close to 700. I was at a 90-95% credit utilization due to my wedding spread over 4 cards. I'm down to 8% and my fako TU/TR score shot up nearly 30 points to the low-mid 700s.

Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
Re: From 117% utilization to 1%...My scores' increase

UPDATE: My score went from 657 to 736. From 117% to 1% in a month.

Valued Contributor
Epcot
Posts: 2,789
Registered: ‎10-10-2012
Re: From 117% utilization to 1%..My scores' increase

That's fantastic, Congrats! :smileyvery-happy:

 

I have my utilization around 80% and will be bringing it down to 30-40% within the next month with the hopes of under 15% by early next year. Seeing your example has me excited for what increase I may see.


Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 816 EX 780 TU 823
App free since 4/11/13
Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
Re: From 117% utilization to 1%..My scores' increase
[ Edited ]

Epcot wrote:

That's fantastic, Congrats! :smileyvery-happy:

 

I have my utilization around 80% and will be bringing it down to 30-40% within the next month with the hopes of under 15% by early next year. Seeing your example has me excited for what increase I may see.


Thanks! You'll definitely see a huge boost. Also, I was at high utilization for almost the whole time I had the card which was 3 years, so it definitely just takes a present moment snapshot.