topic Re: Utilization decrease question in Credit Cards

Utilization decrease question

Anonymous — Tue, 20 Aug 2013 01:52:03 GMT

Hey all, I was just wondering if anyone could give me a general estimate of what to expect for my situation. Scores in sig are current, about 1 year AAoA. 1 bad only showing on my TU. after traveling my util was at 71%, it is now down to 12-14%, so I was just curious about how much that could affect my score. I know is is not a question that has an exact answer, just thought someone may have some input based on their own experience.

Re: Utilization decrease question

Anonymous — Tue, 20 Aug 2013 01:59:23 GMT

@Anonymous wrote:
Hey all, I was just wondering if anyone could give me a general estimate of what to expect for my situation. Scores in sig are current, about 1 year AAoA. 1 bad only showing on my TU. after traveling my util was at 71%, it is now down to 12-14%, so I was just curious about how much that could affect my score. I know is is not a question that has an exact answer, just thought someone may have some input based on their own experience.

Whats the baddie on TU? Assuming no baddies, I would guess yours would be in the 720's. Bring it to ideal util and you will be closer to 740's

Re: Utilization decrease question

Anonymous — Tue, 20 Aug 2013 02:00:27 GMT

It was a collection from an apartment I had in 2007.

Re: Utilization decrease question

Anonymous — Tue, 20 Aug 2013 06:49:36 GMT

That's pretty old. Well buy a EQ FICO and let us know. I'm guess 710-720's (really thinking 720's) assuming I understand your credit profile correctly. To get more exact, would need to know how many cards with balances and how much on each card etc.

Re: Utilization decrease question

Anonymous — Tue, 20 Aug 2013 06:51:46 GMT

@Anonymous wrote:
It was a collection from an apartment I had in 2007.

Btw, make sure to dispute that when it hits 7 years. And remember it is 7 years from when the debt occured. In the case of the apartment I would guess it would be 7 years from the time you first owed the rent/etc. vs. 7 years when they evicted etc.

Re: Utilization decrease question

takeshi74 — Tue, 20 Aug 2013 12:34:06 GMT

Utilization is a fairly significant factor. My credit was severely limited by high utilization earlier this year.