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Very Worried!! Will this work!!!??

New Member

Very Worried!! Will this work!!!??

My credit scores are 708 (TU), 685 (EQ) and 677 (EX).  I need a middle score of 700 to qualify for a mortgage loan. 


I have one late payment appearing in 11/2004.  Since then the card has been paid off. I have never made a late payment since.

I have 2 revolving credit cards:

        One with a $1,680 balance and $5000 limit

        One with a $14,818 balance with a $20,000 limit


I paid down the credit card with the $14,818 balance to $5500 bringing my Util down from about 87% to 37%.  Do you think this could give me a 15 point increase on my FICO score?

Message 1 of 4
Frequent Contributor

Re: Very Worried!! Will this work!!!??

It worked wonders for me, paying down balances, but honestly, it is so individual that I don't think anyone can say for certain.  It may be worth a try, through.


I have jumped a lot of points in a few months, but I changed my credit mix, and the new mortgage had a lot to do with it, too,  giving me my biggest jump. Card-wise, I paid down $2500 worth...score jumped about 9 points at that time, and I added a couple of new accounts to raise my util.


Edited to add:  Have you considered FHA?  You may want to ask this in the mortgage forum if you haven't already; the gurus over there are  filled with great info and got me through my loan nightmare!

Message Edited by LisaJ on 03-16-2009 09:13 AM
WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Message 2 of 4
Frequent Contributor

Re: Very Worried!! Will this work!!!??

I've heard estimates of 10 pts per 10% util dropped. The change in my scores in my sig from dec to now is from a drop in util from 80+% to 1%. I've also heard that if you get it under 30% you can get a good boost. I think you should have 15 pts for sure by what you've done already!
Message 3 of 4
Moderator Emeritus

Re: Very Worried!! Will this work!!!??

This is a duplicate posting that has been posted on a few different forums.


I am locking this thread and all off the duplicates, except for 1.


Please see


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