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Hey All,
I am celebrating because I just paid down my Discover CC. Previously, I was at around 48% utilization now I'm at around 6%. I've been paying on it little by little and seeing my score increase little by little. Now that I put $2500 on it let's pray that my score will increase by leaps and bounds.
Nice! Congrats on your reduced utilization.
@joanie74 wrote:Hey All,
I am celebrating because I just paid down my Discover CC. Previously, I was at around 48% utilization now I'm at around 6%. I've been paying on it little by little and seeing my score increase little by little. Now that I put $2500 on it let's pray that my score will increase by leaps and bounds.
CONGRATS!!!!
I just PIF mine and waiting for my statement to update, I'm itching to run it up again for that 5%!!!!
They key now is, to not let it get back up.
Congrats! Don't let the balances creep back up on you.
@Repo-ed wrote:They key now is, to not let it get back up.
+1 - that is your best bet. Use it, but PIF!
I'll let you all know how much the score increases. I should know in a couple of days.
Equifax went up 33 points, Transunion hasn't computed anything yet (emailed Discover to make sure they reported to all bureaus) and haven't checked Experian yet.
Wow!!! My Tansunion went up from 587 to 695....got a collection removed and some lates plus paying down the cc.
I used to have total CL of 4500. Going from 40% to 7% made my EX jump 53 points(681 to 734). Utilization is definately key.