Scully1 wrote:Discover 13,400 balance/14,000 credit limit
Target MasterCard 12,430 balance/12,800 limit
Jcpenney MasterCard 4,500 balance/5,500 limit
Home Depot 3,500 balance/21,000 limit
I have a 720 FICO. I've worked really hard to never be late. Sold an asset and now have $12,000 to pay down debt. What will give me the biggest bump in my score? I am hoping to refinance my mortgage.
Here is what I would do: new balances in red
Discover 11,200 balance/14,000 credit limit
Target MasterCard 10,240 balance/12,800 limit
Jcpenney MasterCard 0 balance/5,500 limit
Home Depot 0 balance/21,000 limit
This could be a good bump to your score. You currently have 2 maxed out cards in FICO's eyes. Total payments will be 12,390 and your UTL move from 63% UTL to a 40% UTL.
Starting Score: 636