Frequent Contributor
Stralem
Posts: 454
Registered: ‎10-08-2011
Re: Paying down CC balances.....how much does it help?

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.

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