I have a 6 year old negative item and low auto scores
I have several revolving accounts, average age about 3 years with perfect payment history but high balances. If I reduce my revolving utilization will that raise my auto scroes at all?
Thanks Very Much!
Lower utilization impoved auto scores to some degree in my experience. Also some lenders still use regular scores. If you can lower the balances before attempting a purchase it should improve your odds of a favorable result.
To the best of my knowledge, ALL scoring models are sensitive to credit card utilization.