Big score jump for paying down utilization...I need to hear your success
I am working like a mad dog trying to get my utilization down from 100% to 9% or lower. Anybody else do this and if so, what kind of jump did you get? I need to know that I will see some improvement. I am getting discouraged.
Re: Big score jump for paying down utilization...I need to hear your success
I was at around 85-90% UTIL last year and now my UTIL is Zero. Paid it all off and saw 180-192 Score jump in a year. During this time I didnt use Credit at all. I was only paying OFF all CCards. As you make Huge payments you may see 10-20 point jumps in a month. This really helped motivate me !! But some months you may only pay a what you can but even a 5 point jump is great !!
I am working like a mad dog trying to get my utilization down from 100% to 9% or lower. Anybody else do this and if so, what kind of jump did you get? I need to know that I will see some improvement. I am getting discouraged.
Don't quit now!!!! I will update when the rest of mine update this week.
Re: Big score jump for paying down utilization...I need to hear your success
It's amazing how all the numbers I am hearing. Majority of peoples are saying only use 35% utilization; some say 30%; some say 50%; some saying 10% or under now. So from what I make out of it...in order the get the most points use under 10%...but never try and use more than 35%. I messed around and took a -16 point hit on TU due to me thinking the CC company wasn't going to report the limit.
Re: Big score jump for paying down utilization...I need to hear your success
@Anonymous wrote: It's amazing how all the numbers I am hearing. Majority of peoples are saying only use 35% utilization; some say 30%; some say 50%; some saying 10% or under now. So from what I make out of it...in order the get the most points use under 10%...but never try and use more than 35%. I messed around and took a -16 point hit on TU due to me thinking the CC company wasn't going to report the limit.
The number you are hearing are "break points" I feel the break points are at 50%, 30% and 10% of available credit.
It is all about the number they report. CCC report either the statement balance or end of month balance.
Re: Big score jump for paying down utilization...I need to hear your success
this reply is for tuscani, I payed off 2 cc charge offs which were closed and had a balance of 2500 all together, paid off 2 12 month loans for 6000 which brings my available credit to around 98% should I see a jump in my scores when the credit reports update?
