cancel
Showing results for 
Search instead for 
Did you mean: 

1 Card at 88% is this the problem

Estimate your FICO® Score range for free

FICO® Score Estimator

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Regular Contributor

1 Card at 88% is this the problem

I have 1 card that is maxed out to 88%. It's the only card I have maxed out like this. I plan to make a big payment on it tomorrow!

 

Question.. if I pay this down to 30-50% will this incease my credit score?

Message 1 of 5
4 REPLIES 4
Super Contributor

Re: 1 Card at 88% is this the problem


@californiadreaming87 wrote:

I have 1 card that is maxed out to 88%. It's the only card I have maxed out like this. I plan to make a big payment on it tomorrow!

 

Question.. if I pay this down to 30-50% will this incease my credit score?


Yes!


Total revolving limits 719k (592500 reporting) FICO 8 scores: EQ 735 TU 782 EX 746
Message 2 of 5
Valued Contributor

Re: 1 Card at 88% is this the problem

I would think so but how many points depends on many other factors.

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $250k+ unsecured credit in 2019.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                   5%-20% - Amazon & Lowes                6% Groceries - Amex Preferred (DW)
5% Gas & Sporting - Ducks Unl         4% Dining & Entertain - Savor           3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything Else - Flagship          1% Cancer Charity - Fifth Third          0% Finance Promos - Venture & QuickSilver




    
Message 3 of 5
Community Leader
Senior Contributor

Re: 1 Card at 88% is this the problem

Once you cross 2 thresholds—yes:

<48.9%
<28.9%
GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 5
Super Contributor

Re: 1 Card at 88% is this the problem


@californiadreaming87 wrote:

I have 1 card that is maxed out to 88%. It's the only card I have maxed out like this. I plan to make a big payment on it tomorrow!

 

Question.. if I pay this down to 30-50% will this incease my credit score?


It depends.  Is that 88% balance reported on the account?  It's possible you had the card at (say) 30%-50% utilization and made charges that brought it up to 88%.  If that 88% hasn't reported yet, your score is still based on the 30%-50% reported balance so making your large payment and allowing that 30%-50% balance to remain in this example wouldn't move your FICO scores.

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.