Re: Paying down CC balances..
...how much does it help?
04-12-2013 10:54 PM
Hi, new member.
For what it's worth, I paid down a Barclay's card from 90% util to <20% util, then called customer service to have them do an out-of-cycle update to my credit reports.
When I checked my scores two days layer, I found that my TransUnion FAKO had jumped 30 points.
I paid down two CapitalOne cards to 33% (down from 99%) and 9% (from 100%) util respectively soon after. I'm still waiting for CapitalOne to update my reports, but from what various score simulations have told me, I should see an even more dramatic jump.
But of course, YMMV.