topic Re: UTIL on EQ updated 661 again :) in Rebuilding Your Credit

UTIL on EQ updated 661 again :)

Duncanrr — Sun, 04 Nov 2012 16:53:13 GMT

Finally got Walmart to update new balance. My overall UTIL across all credit lines is 2% and my AAoA went back above 10 years EQ score is now 661 and will pull new TU once it updates (checking USAA)

Re: UTIL on EQ updated 661 again :)

Shogun — Sun, 04 Nov 2012 18:30:52 GMT

Congrats! Now just watch it go up!

Re: UTIL on EQ updated 661 again :)

Duncanrr — Sun, 04 Nov 2012 18:35:14 GMT

Nah. Ill take a hit this week with apping NFCU then it will go up.

Re: UTIL on EQ updated 661 again :)

jandj80 — Sun, 04 Nov 2012 18:53:46 GMT

How many points have you gained total from paying off util? What was your starting balance and credit limits? Just curious, I am hoping for a big jump with paying down cc's that were maxed out.

Re: UTIL on EQ updated 661 again :)

Duncanrr — Sun, 04 Nov 2012 18:56:48 GMT

30 pts. Had cc with 90% UTIL and total UTIL was like 20% down now to 2%. Card balance is zero

Re: UTIL on EQ updated 661 again :)

Repo-ed — Sun, 04 Nov 2012 19:17:18 GMT

nice!

Re: UTIL on EQ updated 661 again :)

Epcot — Mon, 05 Nov 2012 01:59:05 GMT

Very nice, Congrats! I also just brought my util down and love the results!

Re: UTIL on EQ updated 661 again :)

beb86 — Mon, 05 Nov 2012 02:39:46 GMT

Very nice 100pt increase

Re: UTIL on EQ updated 661 again :)

Duncanrr — Mon, 05 Nov 2012 03:10:31 GMT

@beb86 wrote:
Very nice 100pt increase

110 actually,, but who is counting. (p.s. I'm counting)

Re: UTIL on EQ updated 661 again :)

Anonymous — Mon, 05 Nov 2012 16:38:00 GMT

Congrats

Re: UTIL on EQ updated 661 again :)

beb86 — Mon, 05 Nov 2012 16:57:32 GMT

@Duncanrr wrote:
@beb86 wrote:
Very nice 100pt increase
110 actually,, but who is counting. (p.s. I'm counting)

Bahaha

Re: UTIL on EQ updated 661 again :)

Anonymous — Mon, 05 Nov 2012 19:17:31 GMT

Has anyone figured out what is the optimal util %? I know that the Fico system looks at two factors, each indivdual revolving's util % and then a cum util %. i've always been told that 15-20% is optimum and going lower than that may actually cause the score to go lower. Just curious as to everyone's experiences with this.

Thanks!

Re: UTIL on EQ updated 661 again :)

Anonymous — Mon, 05 Nov 2012 19:25:41 GMT

@Duncanrr wrote:
Finally got Walmart to update new balance. My overall UTIL across all credit lines is 2% and my AAoA went back above 10 years EQ score is now 661 and will pull new TU once it updates (checking USAA)

I don't really grasp this concept so maybe you can help me. I have small limits on my 3 cc's so the total available credit I have is $850. I don't have any other revolving tradelines and my student loans are in deferrment. All other accts. are closed with 0 balances. I have been keeping two of my cards at a $0 bal every month and one at $45 consistently. Should I use more or less? I am currently under contract for a home and I know UW will pull credit at the beginning of December before closing. I would like to have the highest score possible. TIA

Re: UTIL on EQ updated 661 again :)

beb86 — Mon, 05 Nov 2012 19:33:09 GMT

If you ask 5 people what the optimum utli % is the will most likely give you 5 different answers but a $0 balance on all cards except one and a small balance on the other seems to do the trick but YMMV