topic Re: Looking for uti % dropping snd score increase in Understanding FICO® Scoring

Looking for uti % dropping snd score increase

amckee — Mon, 11 Oct 2021 19:36:41 GMT

Current is

634 eq

644 tu

601 exp

cards

disco 145/2000

cap 1 0/400

cap 1 platinum 200/400. (( now zero yet to report )

finger hut. 645/1000. Got a increase to. 1650 not yet reported

Merrick. 1402/1400. { paid to zero not reported yet }

credit one 64/600. (. Paid to zero not yet reported

so all in all. I paid a good chunk off exspexting my uti to go to 8%. Of a rough estimate. How much can i exspexto to see. On fico 8. But mainly wanting my 609 fico 5 to jump up over 620. Will paying it down ge time over the hump ?

Re: Looking for uti % dropping snd score increase

FireMedic1 — Mon, 11 Oct 2021 20:16:53 GMT

Theres a lot more going on in the background. Its hard to tell and give an exact number. Why is EX 609 for one. What baddies do you have?

Re: Looking for uti % dropping snd score increase

amckee — Mon, 11 Oct 2021 20:20:10 GMT

307$. Charge off

Re: Looking for uti % dropping snd score increase

amckee — Mon, 11 Oct 2021 20:21:05 GMT

Other then that all on time payments for last 24 months. And a good bit of inquires

@amckee wrote:
307$. Charge off

Re: Looking for uti % dropping snd score increase

FireMedic1 — Mon, 11 Oct 2021 20:25:01 GMT

Thats needs to be settled or PIF. You can have 1% util on your open cards. But then a CO is like a 100% maxed out revolving account. So its a combined aggregate util %. Thats is if it is a revoling account. Then you'll see a bigger bump. But the CO will stay and still ding. What was the DoFD on this CO?

Re: Looking for uti % dropping snd score increase

amckee — Mon, 11 Oct 2021 20:26:58 GMT

2/21 Plan on paying it but it's only on Experian but i will inquire to have it deleted if paid. But at this moment i have to bump over 620 equifax mortgage to get my home loan

Re: Looking for uti % dropping snd score increase

FireMedic1 — Mon, 11 Oct 2021 20:29:37 GMT

Thats probably why as I asked why EX was your lowest score. Yes get it taken care of. Then it will no longer count against your util%'s. But getting a charge off deleted is next to impossible. Whos the creditor BTW?

Re: Looking for uti % dropping snd score increase

amckee — Mon, 11 Oct 2021 20:34:00 GMT

Affirm. A buy online pay later thing

@FireMedic1 wrote:
Thats probably why as I asked why EX was your lowest score. Yes get it taken care of. Then it will no longer count against your util%'s. But getting a charge off deleted is next to impossible. Whos the creditor BTW?

Re: Looking for uti % dropping snd score increase

SoonerSoldier33 — Mon, 11 Oct 2021 20:45:42 GMT

@amckee wrote:
Current is
634 eq
644 tu
601 exp

cards

disco 145/2000
cap 1 0/400
cap 1 platinum 200/400. (( now zero yet to report )

finger hut. 645/1000. Got a increase to. 1650 not yet reported

Merrick. 1402/1400. { paid to zero not reported yet }

credit one 64/600. (. Paid to zero not yet reported

so all in all. I paid a good chunk off exspexting my uti to go to 8%. Of a rough estimate. How much can i exspexto to see. On fico 8. But mainly wanting my 609 fico 5 to jump up over 620. Will paying it down ge time over the hump ?

The mortgage scores are particularly sensitive to accounts with balances. Lowering your aggregate revolving utilization along with the number of accounts with balances should net you a nice score increase on EQ 5, but no one can really tell you exactly how big of an increase. Getting all accounts to $0 except your Discover would optimize AZEO for you, but you may get a big enough bump with the balances you've already cleared.

Re: Looking for uti % dropping snd score increase

FireMedic1 — Mon, 11 Oct 2021 20:47:35 GMT

They arent known to delete really anything. Theres more to just the CO status. All the lates that led up to it. So GW letters is all you got to work with. Start sending them but dont get you hopes up. Though getting that CO settled and Fingerhut PIF and practice AZEO. It will be really close. Might (said lightly) be able to squeak it out. Good luck and keep us updated.

Re: Looking for uti % dropping snd score increase

SouthJamaica — Tue, 12 Oct 2021 14:03:11 GMT

@amckee wrote:
Current is
634 eq
644 tu
601 exp

cards

disco 145/2000
cap 1 0/400
cap 1 platinum 200/400. (( now zero yet to report )

finger hut. 645/1000. Got a increase to. 1650 not yet reported

Merrick. 1402/1400. { paid to zero not reported yet }

credit one 64/600. (. Paid to zero not yet reported

so all in all. I paid a good chunk off exspexting my uti to go to 8%. Of a rough estimate. How much can i exspexto to see. On fico 8. But mainly wanting my 609 fico 5 to jump up over 620. Will paying it down ge time over the hump ?

Your mixing up 2 different scoring models.

When focusing on mortgage scores, you would get more bang for your buck by focusing your efforts on (1) increasing the number of accounts with zero balances and (2) decreasing individual accounts reporting 50% or more. Optimally you would have only one card reporting a balance and that balance being 28% or less.

The Merrick and Fingerhut accounts are killing your scores.

Re: Looking for uti % dropping snd score increase

SeeingTheLight — Sun, 17 Oct 2021 01:55:59 GMT

If you have the Experian app, you can use the simulator to get a pretty accurate look at where your score will end up when you pay off debt. It's been pretty accurate for me so far...