topic Re: 30 point jump!! in Understanding FICO® Scoring

30 point jump!!

Anonymous — Fri, 23 Dec 2011 15:22:13 GMT

hmm. i just updated my fico score this morning and it jumped 30 points!!! its weird though, the only new thing that reported were 2 payments on accounts totalling $150.... and only brought down my util by like 4% to around 28%...

i can't wait for the new accounts to report!!!! im a happy camper.

i do have a question though, hypothetically if i paid off all my cards and $2000 of "new money" reported onto my reports and my util dropping to 12%... is it possible that i'd join the 700club?!?!

Re: 30 point jump!!

aussiesareforever — Sat, 24 Dec 2011 18:35:52 GMT

Congrats! That is awesome

Re: 30 point jump!!

RobertEG — Sat, 24 Dec 2011 19:10:00 GMT

A lot depends on your scoring in other categories, particularly payment history.

How many prior derogs are reporting, and if so, what is their age?

Re: 30 point jump!!

Anonymous — Sat, 24 Dec 2011 21:07:14 GMT

@RobertEG wrote:
A lot depends on your scoring in other categories, particularly payment history.
How many prior derogs are reporting, and if so, what is their age?

no derogs

Re: 30 point jump!!

llecs — Mon, 26 Dec 2011 04:24:42 GMT

@Anonymous wrote:
i do have a question though, hypothetically if i paid off all my cards and $2000 of "new money" reported onto my reports and my util dropping to 12%... is it possible that i'd join the 700club?!?!

You'd have to bring your FICOs up by 50 or so points. I don't see that as possible by going from 28% to 12%. You might have a better shot though getting it under 9% with all but one CC reporting $0.