Geez, only two points??

[Dgimple]

Had myself removed as an AU from my wife's Amex Blue account (23k bal on 26.5k CL) TU deleted the account the next day.  Was an account from 2002, but I have several that go back to 1996, so wasn't concerned too much on the avg age.  The thing is, my TU score only went up 2 points....kind of a letdown.

Still have roughly 72k in CC debt but 10k of that is scheduled to be paid today with another 35k by the end of the week (which should definately help with my util).

I'm assuming that paying off the additional 45k should help more as those lines will clear and my util will go way down.  Am I fooling myself that I can get my scores up around 50 points in the next couple of mos?

635 EX, 631 TU, 610 EQ

Thanks!

[InfinitiG35]

No, you are not! You can definitely get a 50 point increase by decreasing your utilization. I can attest to that. Look at my signature and you can see what decreasing utilization did for my scores in less than a month. I went from 86% to 7%, and that was on just two cards — one with a $300 limit, and the other with a $350 limit.

[Anonymous]

I say if your overall util didn't change much by removing the card, that is the reason for the 2 points.

I don't know a lot about util but I thought I remember reading that you get a bump when it goes below 30% and then another bigger when it goes under 9%..........but I could really be wrong on that 30% part.

[Anonymous]

You should see some nice bumps when ut. hits 50%, 30%, 20%, 10%, and when you get to < 3%.

[Anonymous]

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cobra19 wrote:

You should see some nice bumps when ut. hits 50%, 30%, 20%, 10%, and when you get to < 3%.

This is almost correct.  Most people report that they get the score boosts when their util goes below the above-mentioned values.  So, keeping in mind that FICO rounds up for util purposes, you should see score boosts at 49%, 39%, 29%, 19%, and 9%.

Message Edited by cheddar on 04-14-2008 09:30 AM

[Anonymous]

How much of a "boost" do you see when you bring down util to these points?

[llecs]

You probably had a large increase due to the utilization but suffered a significant decrease due to a lower average account history. If that Amex was older than your average age, then you took a hit.

Wait...on a prev. post that Amex account wasn't factored into utilization becasue it was an open account, rather than revovling.

Message Edited by llecs on 04-14-2008 05:24 PM

[Dgimple]

There are two Amex accounts....the one that came off my report (at least the TU one) was a revolving Blue account.  The one we were speaking about that I am going to pay off was a regular Amex card that wasn't reporting as revolving.....

[llecs]

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Dgimple wrote:

There are two Amex accounts....the one that came off my report (at least the TU one) was a revolving Blue account.  The one we were speaking about that I am going to pay off was a regular Amex card that wasn't reporting as revolving.....

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Got it. Was this one older than the others reporting?

Edited for grammer.

Message Edited by llecs on 04-14-2008 05:42 PM

[Dgimple]

The Blue was the "younger" of them.  I looked at CR from before the removal and after and the average age of 7 years didn't change.