@Anonymous wrote:Quik question for all you experts on this board. I had a credit score of 540 before I applied for my one and only credit card and isntantly got a bump of about 40 points on my Fico. I went a couple of months of utiliying only about 5% of the credit limit and jumped all the way up to the 640 ish range after a few months I started to use the credit card more using about 60% of the credit on the card. Instantly I dropped to 592. Does the fico model score so much on utilazation of credit that I see these wild score swings. I cant see anything else on my report that would suggest anything else negative. Any advice on this would be appreciated.
Yes.
you need to keep your utilization down to about 1-9% for the best possible FICO scoring.
