Utilization happens in stages and only impacts your score when A) you reach another utilization threshold and B) your creditors report the lower uilization. Speaking from experience, due to latency between when your reports are pulled and when a creditor reports, the utilization shown for many of my accounts are 4-6 weeks behind actual.
@MeCasa, simulators are basically worthless; there are way-WAY too many variables to make them even remotely realistic.
@MeCasa wrote:I need to say something about My Fico's sales pitch. It was difficult to navigate to the forum because all they would show is their sales pitch. I could not migrate without looking at plans and then a community tab showed on top. Originally none of the top links worked. I know all they care about is taking my money but......
Ive been paying down to get my utilization rate down below 50 and in the past couple of months that's exactly what I've done but even though it's been more than a month the utilization remains the same.
Please explain exactly what you mean when you say "the utilization remains the same". Where are you getting this information from?
@MeCasa wrote:That makes sense, the world doesn't revolve around me.....they get around to me :-(
Horseshoez, maybe I'm going about this the wrong way. since the score is pretty much a crapshoot (shorterm at least), maybe these companies lending lending requirements are more rigid. I want to borrow 50k-75k unsecured? What credit score do you think that requires?
Score is but one of many metrics a financial institution will look at when determining whether to lend that much unsecured money to someone. Said another way, ain't nobody here can answer your question.