Hopefully this will boost my score

Anonymous · ‎03-03-2008

My score went down to 530 due to over utilizing my credit cards. My util was 102%. Now I paid everything down to 37% and will see if this jump starts me to around 600. I also have one PFD deleted. I really dont know what will happen.

Anonymous · ‎03-03-2008

you will see a score increase. Best scores are under 9% UTIL. I think boost comes at around 50% and 30 % etc. As payments post & UTIL comes down you will see more increases.

Anonymous · ‎03-03-2008

Missy, HappyDays is totally correct. Getting those balances down will cause a big score jump.

In February,2007 my TU score was 521, with about 90% utils. After paying down the 5 cc's I had and getting the utils down to about 25% my TU score rose to 681.

amounts owed(read that to mean utilization) accounts for 30% of your FICO score. The second most important scoring catagory.

Anonymous · ‎03-03-2008

Sylviatob wrote:
Missy, HappyDays is totally correct. Getting those balances down will cause a big score jump.

In February,2007 my TU score was 521, with about 90% utils. After paying down the 5 cc's I had and getting the utils down to about 25% my TU score rose to 681.

amounts owed(read that to mean utilization) accounts for 30% of your FICO score. The second most important scoring catagory.

WOW I knew that lowering my util below 10% would help, but I was wondering how your score would change if it moved from over 100% to 37% would help. Thanks I dont have enough to bring it down to 9% yet. So my next step will be to bring it down below 30%. Am I correct that if you have a credit card that is over the limit, it will look as bad as a 90 day late.

Junejer · ‎03-03-2008

Missy, you get increases for being under 50%, then under 30%, then under 10%. You should see an increase for going under 50%. If you can get it under 30%, you should see another increase.