How maxed out cards affect your FICO[ Edited ]
04-05-2007 11:23 AM - edited 04-05-2007 11:26 AM
I have one card that was reporting maxed out due to not reporting a credit limit. My overall utilization was still standig at 34%. This card just updated today to show a 0 balance. Resulted in a 15 point bump in score. In a system where a few points can, make a difference between whether or not you can afford a house, this was HUGE. Lesson learned, never max out a card, or if you do, pay it off before the statement date.
Message Edited by Brammy on 04-05-2007 02:26 PM