topic Re: 8k balance paid 0 change in fico? in Understanding FICO® Scoring

8k balance paid 0 change in fico?

thirst305 — Sun, 23 Nov 2014 06:27:16 GMT

The card had a 20k limit, and represents about 5% of my credit limit. I paid it off, with 2 cards w 2k balance each remaining and my exp score did not budge.

It surprises me that a 8k balanced paid would have 0 effect on my score.

Thoughts?

Re: 8k balance paid 0 change in fico?

HiLine — Sun, 23 Nov 2014 06:43:39 GMT

My thought is that with 400k in credit limit, an 8k balance is negligible. This is the equivalent of a 200 balance on 10k total limit.

Re: 8k balance paid 0 change in fico?

thirst305 — Sun, 23 Nov 2014 06:47:47 GMT

8k is 5% of 160k, still not a huge amount but would still think a 40% util card being paid off would have changed the score somewhat..

Re: 8k balance paid 0 change in fico?

HiLine — Sun, 23 Nov 2014 06:55:12 GMT

What is your current score? Since your profile has a derogatory item, the impact of certain FICO scoring factors on your scores may be different than if you had a clean file.

Re: 8k balance paid 0 change in fico?

thirst305 — Sun, 23 Nov 2014 06:56:06 GMT

I would understand it if went up OR down, but the fact that it stayed at the same exact score just makes me feel like I'm not getting my money's worth. I spent 14 bucks buying a report expecting some kind of a change!!! =)

Re: 8k balance paid 0 change in fico?

HiLine — Sun, 23 Nov 2014 07:02:40 GMT

@thirst305 wrote:
I would understand it if went up OR down, but the fact that it stayed at the same exact score just makes me feel like I'm not getting my money's worth. I spent 14 bucks buying a report expecting some kind of a change!!! =)

Lol