Score Simulator/CC Balance?

rycoop — Tue, 26 Feb 2008 18:57:14 GMT

Okay my scores are crummy but they've come a long way baby... and I have to ask if this seems right.

Let me give you a little history. On 11/30/07 my scores were EQ 477, TU 531, EX 593. Today they are

EQ 511, TU 601, EX 607. They are moving in the right direction but I'm trying like crazy to get them up high enough to qualify for a home this year.

I have only one good open cc (I wasn't responsible enough for the others I had). Regardless my only open acct is with Imagine card (I know, they're bad). I'm applying for credit and being declined so I've stopped all apps. NOW I am going to just keep paying on time and keeping the balance low so I can get those scores up.

My question is this..

I went to Score Simulator and I currently have a balance of 296 on a 300 limit. I put in 296 (to pay it off) and it says score could be 621-651. BUT if I only pay 260 I have a possible score change of 631-671. Is it really possible to have a higher score with a small balance on the card?? Wow?

Thanks for the feedback.

Re: Score Simulator/CC Balance?

George2037 — Tue, 26 Feb 2008 19:23:10 GMT

rycoop wrote:
Okay my scores are crummy but they've come a long way baby... and I have to ask if this seems right.

Let me give you a little history. On 11/30/07 my scores were EQ 477, TU 531, EX 593. Today they are
EQ 511, TU 601, EX 607. They are moving in the right direction but I'm trying like crazy to get them up high enough to qualify for a home this year.

I have only one good open cc (I wasn't responsible enough for the others I had). Regardless my only open acct is with Imagine card (I know, they're bad). I'm applying for credit and being declined so I've stopped all apps. NOW I am going to just keep paying on time and keeping the balance low so I can get those scores up.

My question is this..

I went to Score Simulator and I currently have a balance of 296 on a 300 limit. I put in 296 (to pay it off) and it says score could be 621-651. BUT if I only pay 260 I have a possible score change of 631-671. Is it really possible to have a higher score with a small balance on the card?? Wow?

Thanks for the feedback.

Having a 1-9% balance on reported to CRA looks better than a $0 balance. The reason being is it shows you are being responsible by not over using you avialable credit, and able to maintain what credit is being extended to you.

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Score Simulator/CC Balance?

Re: Score Simulator/CC Balance?