topic Re: Utilization @ 62% in General Credit Topics

Utilization @ 62%

jackg — Tue, 05 Mar 2013 19:59:44 GMT

Just peeking over the fence after a 2006 CH 7 BK to see what I can do to move my FICO scores with 62% utilization. Before you say " Just pay off all your CC's & installment loans" here's the deal. I used to know the breakdown of the %'s that would move your score. For example; it used to be that if you could get from where I'm at to under 50%, scores would go up. This is the kind of info. I'm looking for, can anybody help?

Thanks

Re: Utilization @ 62%

2FixMyCredit — Tue, 05 Mar 2013 20:05:44 GMT

Have it report at 1-9 % then completely pay it off immediately afterwards.

Re: Utilization @ 62%

jackg — Tue, 05 Mar 2013 20:34:06 GMT

I'm aware of that, how do you think your post answers my question?

Re: Utilization @ 62%

llecs — Tue, 05 Mar 2013 20:37:04 GMT

YMMV. YMMV because of buckets. For example on a clean report I paid down CCs and my score only moved slightly down to the 30-40% level from a high of 89%. Then most of my points came when I paid it down below 30% with most of the gains around 5% to 15%. On the flip side, someone with baddie in a dirty bucket might have util at a negative ranking at the #3 or #4 slot, or even not at all, so paying down util from 90% down to 10%, as an example, might result in very little gain, if any at all.

Re: Utilization @ 62%

jackg — Tue, 05 Mar 2013 20:53:25 GMT

Thanks a lot, that's the info I'm looking for. By the time the BK falls off in 2016 I should have the utilization down to under 30% at least. I have no other negatives so I should be good to go in 3 years.

Re: Utilization @ 62%

2FixMyCredit — Tue, 05 Mar 2013 21:20:59 GMT

@jackg wrote:
I'm aware of that, how do you think your post answers my question?

In the future, try not to be so dang rude. You asked a question, I answered, just because it wasn't to your "liking" doesn't mean it wasn't answered.

Re: Utilization @ 62%

Anonymous — Wed, 06 Mar 2013 01:39:12 GMT

@2FixMyCredit wrote:
@jackg wrote:
I'm aware of that, how do you think your post answers my question?
In the future, try not to be so dang rude. You asked a question, I answered, just because it wasn't to your "liking" doesn't mean it wasn't answered.