Regular Contributor
Posts: 232
Registered: ‎06-01-2012
Re: Health > FICO = Break
[ Edited ]

Just wanted to give an update ...

Ok ... so Care Credit (GE Money Bank) came through for me and that combined with Amex and savings allowed me to take care of the near $5000 bill for the wisdom teeth extraction and dental bone grafts.  I stil have a crown left then ... TaDa! ... Adult braces.  Yeah.  Fun.


Anyhoo much discussion has been made regarding just exactly how utilization will affect your FICO and since I basically temporarily maxed everything out I can tell you boy does it hurt!  And quickly!  I had reached over 600 on my FICOs after working hard and within one month of maxing things out BOOM ... all are below 515.  Ouch.  Mind you, I had a new CC show up (GE Money Bank's Care Credit account) but other than that: all payments made on time and no other changes ... only utilization.  Let the tears begin.


Fortunately, I will have my utilization back down to below 30% by the end of November and back down to the sweet spot of 7% - 9% by the end of December.  It'll be interesting to see just how fast and to what level they return.  I'll keep y'all updated.


So moral of the story: utilization matters folks!  BIG time!

Starting Score 4/15/2012:579 Ex-FAKO, 572 Eq-FAKO, 546 TU-FAKO (all were sub-500 in 2011)
FICO as of 3/08/2013: 627 EQ, 647 TU
FAKO as of 3/23/2013: 638 EX, 652 EQ, 648 TU
Goal 1: 600 FICO achieved 10/2012!, Goal 2: 650 FICO Across the Board - Let's take Baby-Steps!
**Amex Optima $1.3k, GE/CareCredit $1k, CapOne Secured $900, Barclaycard Rewards $500, CapOne Rewards $500, Citi/Shell $200**
Seedling Garden Club Member - Last App: 03/18/2013 - Goal: No apps for One Year: 3/18/2014