topic Re: UTILIZATION UP ... SCORES UP TOO !! in Rebuilding Your Credit

UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 16:32:54 GMT

With my $200 secured card, I like to only let $18 report by the close date which is 9% ..... well, I accidentally forgot that I got gas & bought some food with my credit card when I left my debit card in the wrong purse. ..... I didn't realize until 1 day before the statement cut & had a $54 balance, which is 27% utilization.

To be honest, I figured my scores would take a dive which is why I was nervous when I got a notification of a myFICO email alert. Signing in, I got ready to see a decrease, however, instead Experian INCREASED 44 points due to the change in balace & utilization !!!!! Equifax went up 10 points & I haven't gotten an alert yet from Transunion. 2 weeks ago, I received a 53 point increase on Experian as well (which I don't know why - probably aging) ... That's almost 100 points on Experian in a month.

I now happily sit with an Experian FICO Score of 648 . Last month, Experian was at 551. .... now im just patiently waiting for the defaulted student loans to be removed if posisble (rehabbed) which by looking at all the negative info on those 15 tradelines, I hope to get a boost from that as well. Cheers!!

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 16:45:16 GMT

what's odd is that credit karma says my Equifax went down 2 points. I still check my ck account because it's where I began & i can see my reports, but how does Fico say I went up 10 points on EQ & CK say I went down 2 points?? ... I'm still sitting at 570 on credit karma equifax. Fico Equifax is now 590.

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 17:03:59 GMT

That's funny ... my Util at CCT shows 21 percent at the moment ... and I lost nine points

These minor ups and downs don't bother me much, knowing how it all works together now. I'm still waiting for some deletions ... once those come in, I should see a little bump. Then it's time to close the secured card, app for either a Plat or QS1 to replace it and work with my QS and then garden.

Congrats on the increase!

Re: UTILIZATION UP ... SCORES UP TOO !!

JustBPatient — Mon, 16 May 2016 17:10:07 GMT

Dont put a whole lot of faith in Credit Karma, its a good educational tool but thats about it. The scores aren't used by lenders. Congratulations on the increases!!!

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 17:18:37 GMT

@jjking54 I wanna do the same, but I'm afraid I'm not gonna get approved anywhere because my chargeoff last updated 6 months ago. I wanna apply for the Platinum from cap1 but I know if i dont get approved, they don't have a recon department & that will waste an inquiry.

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 17:16:23 GMT

@JustBPatient wrote:
Dont put a whole lot of faith in Credit Karma, its a good educational tool but thats about it. The scores aren't used by lenders. Congratulations on the increases!!!

I like your screen name lol ... Someone just told me to be patient at work 2 minutes ago & now your name is telling me again haha. Thanks!

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 18:41:31 GMT

I forget, I know you have the secured, but is that it, from Cap One?

Is it a Cap One charge off?

Even so, it might be worth an app, especially with your scores as they sit right now.

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 19:09:24 GMT

Yep the secured card is Capital One, but the charge off was a Discover It card.

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 19:16:33 GMT

Why is yor EQ/TU so much lower than your EX? Any chance of those getting bumped up soon?

I'm not surprised by it, because mine is much the same way, though the difference is lessening as I clean up both of those CRs.

Pretty sure all three of mine were right around 600 or so when I appd. I know my EX was near 640 at the time, with the other two being slightly over 600.

I'd say once you're in a similar situation, I'd app for the Plat. And then hopefully you'll get PCd to a QS as quickly as I did ... I was around 23 days when I requested the change

Actually check that ... my latest 3B puts TU and EQ under 600, but only by a few points. If you don't have a lot of INQs on your file, you might consider it.

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 19:26:45 GMT

Good info! My TU & EQ scores are both pinned down by my last collection that I'm working my tail off to pay off. It's a private student loan of about $4500 when I dropped out. I don't want to call in on it yet because the collection agency is a law firm & until I save up at least 70% of that amount, I don't want to wake them up since the last activity was in 2013.

Other than that, I have defaulted student loans but those are mostly on Equifax & Experian. EQ has 7 default tradelines, EX has 7 of those tradelines too. TU only has 1. I've disputed them. The completion date for the dispute is the 28th of this month so hopefully they will be removed. I haven't heard anythig yet.

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 19:43:08 GMT

Transunion alert just came in .... up 14 points !

585 to 599, almost at 600. Feeling good today. Yes!

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 19:51:38 GMT

I'd think you can app now ... up to you

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 20:05:03 GMT

Haha, I'm gonna try to be patient (garden) another 3 more weeks.

Re: UTILIZATION UP ... SCORES UP TOO !!

Anonymous — Mon, 16 May 2016 20:06:45 GMT

Good luck!