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It dropped into the low 700s so I took a hit. Amazing how much utilization impacts score.
Personal: American Express Platinum - NPSL | American Express Blue Cash Preferred - $15,000 | Chase Sapphire Reserve - $38,500 | Chase Amazon Prime Visa - $7,200 | Chase Freedom - $500 | Barclaycard Arrival+ - $18,600 | PenFed Platinum Rewards - $25,000 | PenFed LOC - $10,000 | Navy Federal Credit Union Platinum Visa - $25,000 | Navy Federal Credit Union LOC - $10,000 | Citi Double Cash - $12,170 | Citizens Cash Back+ - $8,650 | Citizens LOC Overdraft - $8,000 | Discover - $10,000 | Capital One Quicksilver One - $3,600 | Capital One Platinum - $750 | Valero - $600 | Dell - $3,000 | Lowes Advantage - $30,000 | Macys Amex - $25,000 | The Home Depot - $7,500 | Tourneau - $15,000
Business: American Express Business Platinum Card - NPSL | American Express Plum Card - NPSL | American Express SimplyCash Plus - $10,000 | American Express Gold Card - NPSL | Bank of America Cash Rewards - $100,000 | Capital One Spark Business - $54,000 | Chase Business Preferred - $34,000 | Chase Business Ink - $15,000 | PNC Bank Cash Rewards Visa Signature - $19,000 | PNC LOC $100,000 | BP Business Solutions - $1,500 | KeyBank Mastercard - $6,000 | Staples More Account - $3,500
Congrats!!
Wow. That is a MASSIVE payment. The largest credit card payment I've ever made was $600 -- and that is when I paid off my iPad.
Util % makes up 35% of your Fico scoring....you are going to see a nice increase once it report IMHO. Congrats !!
@Uncle_Money wrote:It dropped into the low 700s so I took a hit. Amazing how much utilization impacts score.
Oh yeah!
Congrats on paying them back down - sounds like you had a high utilization for just a short time. Keep us posted on your score changes.
@MarineVietVet wrote:
@Uncle_Money wrote:I know it will drop my utilization but I'm wondering the score effect it will have?
What was the utilization before the pay down and what will it be now?
+1
This infomation could help us give you a general-ish idea, of what you might expect to see scorewise.
And do you know your current EQ FICO?
I assume the score you have in your siggy is outdated?
ETA: Super Congrats, that is an amazing amount to pay down at once, great job!!
Congrats! It's such a good feeling when you pay off CCs.