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These are my cards:
Limit/Balance
Cap1---2200/2190
Wamu-1500/1444
Orch---- 800/779
Hooters-500/490
BestBuy-300/270
Kays----2100/0
I paid off all the cards today except BestBuy.
My current fico scores are TU642 EX656 EQ648
When all the accounts report a 0 balance what do you guys think my score will go to?
For me util is a HUGE effect.
No other changes, went from CC bal's of $200 to almost $8000 which was 90% util and my score went from 750's to 604!
Hard to believe it tanked my score by 150pts, but thats the only thing that changed. Mtg stayed the same etc. No baddies in 5+ years, (and only 3 30's back then) but one lingering acct that should have aged off last year.
I have now paid all but $2100 off and its back to over 700. (705,721,728)
The fico simulator claims 840 (TU) and 790 (EQ) if I pay it all off.
Now my gf is just the opposite. She has a 740-780 score no matter what she does. She has cards at 95% util and it never changes! Was 745 EXP w/ 0 bal, she charged up to 95% and it dropped to 741. Similar w/ the other 2. She has 3 CC, no mtg, no car payments, and only 2 installments over the past 3 years. 15 year history. Makes no sense why her score never moves. I would think sinces her score is all CC that util would effect her more than me! Nope.
Last month I paid $12000 in credit card debt leaving me a balance of $650 and about 3% util.
My credit score went from 664 to 762 (TU)
doedoe wrote:
Anyone else have an idea what my scores might look like?
I think your scores will improve quite a bit, but having the Best Buy card reporting at 90% util might be a problem. In FICO scoring, a single CC reporting 90% is considered maxed-out. 700 is certainly possible, 720+, probably not.