How much could my score go up?

[Anonymous]

I have two credit cards that are maxed out. My mid score is 565, if I pay off those two cards how much coukd my score rise? i also disputed a 30 day late payment from November 2013 that will be taken off In 30-45 days. How much could that raise my score?

[juggalo9er]

i do not believe there is an exact answer to this question although i know the 30 day late being removed should be bewteen 30 and 50 points. imoe utilization of 9% on one card resulted in a net monthly raise of around 7 points. in contrast if i highered the utilization to 48%, the score dropped 9 points. i only have 2050 revolving credit and i realyl believe it will affect others signicantly more.

[Anonymous]

Payment history and utilization are around 2/3 of your score.

If you correct both the things you mention, and there are no other derogatories, I expect you would see a good bounce.

[Anonymous]

oh wow! I hope you are right!

[takeshi74]

We can't tell you that you'll get X points for doing Y.  Calculate your difference in utilization and compare that to the generally recommended 30% max and the generally recommeneded 10% or less for optimum scoring.

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@Anonymous wrote:

oh wow! I hope you are right!

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See also:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

[Involver]

Some data that I have seen would suggest that, at your scores, if you go from 2 maxed out cards to 1-9% on a single card you should probably gain about 100 points or so.

[Revelate]

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@Involver wrote:

Some data that I have seen would suggest that, at your scores, if you go from 2 maxed out cards to 1-9% on a single card you should probably gain about 100 points or so.

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That's roughly accurate if there's no other derogatories on the report and there's sufficient history; however, in this instance we don't have nearly enough information to make that sort of blanket qualification.

If I went from 100% utilization to 1-9% on a single tradeline I'd likely get on the order of 40-50 points with my badly mixed file.   53% utilization and a maxxed out tradeline for me was a 14 point drop for reference.  That's not one I'm going to go test though .

[Involver]

After I posted that I was going to amend it to say pretty much exactly what you said regarding the lack of other information (even including the existing late OP mentioned), but it was the best anecdotal information I could offer.

In any event, OP, you could probably expect quite a significant boost.

[-Wade-]

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@Anonymous wrote:

I have two credit cards that are maxed out. My mid score is 565, if I pay off those two cards how much coukd my score rise? i also disputed a 30 day late payment from November 2013 that will be taken off In 30-45 days. How much could that raise my score?

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my quess would be in  mid 600's it you have nothing bad on your reports.... Good luck on your score increase