Established Member
Posts: 1,163
Registered: ‎01-22-2008
Re: Getting to 620...

MBOhio2 wrote:



I am scheduling the final lump sum payment to the LOC right now and I'm starting to panic. The payment I was planning to make would cause my utilization to change as follows:


Overall = decrease from 22% to 17%

LOC = decrease from 26% to 20% (the LOC makes up most of my utilization)


Now I'm wondering if I should try to scrape together the $ to pay the LOC down just a little further so that the LOC utilization is below 20%. I've heard a lot of people say that getting under 20% was a "sweet spot" for them and caused a score increase, but I'm wondering... was this 20% overall utilization OR was this 20% individual utilization on the remaining revolving account with a balance (which is the LOC for me)?!


Help Please!!

Maybe do it in steps to see what effect each has.  Make the original payment as planned bringing overall util to 17% (hopefully some points there from going over 20% to under 20%).  See what happens.  Then pay second payment to get under that 20% individual util.  I know time might now be on your side though, either way, paying more won't hurt you none.  Smiley Wink

CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16