UTL %'s and the changes in your fico

[bott6698]

If this has already been posted in the past my apologies... I wanted to hear personal experiences of UTL % changes

and what happened to your fico scores. I have gotten very good advice from many members on what to do to my UTL to make it better and I can't wait to implement that advice on January 15th when I have some extra cash to use.

I will also post my experience on this board once the effects kick in and let you know how my fico was adjusted...

Message Edited by bott6698 on 01-04-2009 10:03 AM

Message Edited by bott6698 on 01-04-2009 10:04 AM

[Anonymous]

I lost 15 points on EQ (666 to 651) when my util went from 28% to 32%.

[Anonymous]

Back in June of 08, I had a FICO of 551 (no baddies) because of my utilization at around 90%. However as I paid it down over time and reached about 5% util, my score went all the way up to the 700's. It was a great feeling and taught me a huge lesson when it comes managing money.

[marty56]

1% - 9% util - no change

0%         util - lost 6 points on EX

This is on 1 CC reporting a balAnce.  I loose points if more than 1 report,

[bott6698]

Wow Chop. This gives me a lot of hope. Right now I am showing 89% so maybe I will hit 700's also hehe

[niecey89]

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@bott6698 wrote:
Wow Chop. This gives me a lot of hope. Right now I am showing 89% so maybe I will hit 700's also hehe

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Bott6698, it can happen. I was in the same boat as you back in July08. As you can see by my signature I am in the mid 600s. I went from 89-90% to now I am at about 1-3% UTL. A lot of cutting back(budget) and determination. 

[Anonymous]

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@bott6698 wrote:

If this has already been posted in the past my apologies... I wanted to hear personal experiences of UTL % changes

and what happened to your fico scores. I have gotten very good advice from many members on what to do to my UTL to make it better and I can't wait to implement that advice on January 15th when I have some extra cash to use.

I will also post my experience on this board once the effects kick in and let you know how my fico was adjusted...

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As you can see by my signature, my scores have gone up this year.  I had a trial version of scorewatch and I think my EX score was a little lower than in the signature, but the only thing that changed in that time was my util % going down.  Part of it was I've been paying off a lot of CC debt and I've gotten some pretty good CLI's this year as I paid my debt down.  In April my util % was about 24-25%.  In November it was somewhere around 9%.

[Anonymous]

i only check one of my reports regularly (experian) the others i pull once every 6 months or so.  but i was sitting at a 673 with 85-95% available credit for the longest time. my score dropped 10 points when my available credit went down to 63% and i oddly gained 4 pts by letting one of my cards report a $9 balance after reporting zero for the last 6 months (i usually pay this card in full every month) So essentually i took a 6 pt drop with a 37% utilization increase.

[Anonymous]

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@bott6698 wrote:
Wow Chop. This gives me a lot of hope. Right now I am showing 89% so maybe I will hit 700's also hehe

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Theres always hope and anything is possible! Good luck and keep us updated!

Message Edited by Chopbrocoli on 01-05-2009 11:21 AM

[Anonymous]

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@Anonymous wrote:
Back in June of 08, I had a FICO of 551 (no baddies) because of my utilization at around 90%. However as I paid it down over time and reached about 5% util, my score went all the way up to the 700's. It was a great feeling and taught me a huge lesson when it comes managing money.

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That is a good story!!! I hope I can have that kind of success once my cards age some more. Congrats Chopbrocoli!