Is this possible?

[2anewu]

I am not understanding how this is possible...... I just paid my cc's down to 30% util (still going) and my score only jumped up 3 points. I know that collections are like acid to a score, but 3 points. I am now in the process of trying to get this collection that should be on my sisters report off of mine.

I just did not expect to pay all of that money and only have it raise by such a small amount. Please let me know if this is common. Thanks

[Anonymous]

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2anewu wrote:

I am not understanding how this is possible...... I just paid my cc's down to 30% util (still going) and my score only jumped up 3 points. I know that collections are like acid to a score, but 3 points. I am now in the process of trying to get this collection that should be on my sisters report off of mine.

I just did not expect to pay all of that money and only have it raise by such a small amount. Please let me know if this is common. Thanks

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What was your util to begin with?

[llecs]

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2anewu wrote:

I am not understanding how this is possible...... I just paid my cc's down to 30% util (still going) and my score only jumped up 3 points. I know that collections are like acid to a score, but 3 points. I am now in the process of trying to get this collection that should be on my sisters report off of mine.

I just did not expect to pay all of that money and only have it raise by such a small amount. Please let me know if this is common. Thanks

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Was this a CC charge-off with the OC reporting or a CC collection via a CA reporting?

[2anewu]

Util was at 88%, and it was a CA reporting to the CRA's.

[llecs]

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2anewu wrote:

Util was at 88%, and it was a CA reporting to the CRA's.

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Unfortunately, your FICO score doesn't factor utilization into a CA account. In other words, if you owe $10,000 or $0, the damage is the same. The only way to improve that is to have the CA removed off your CR. A PFD after a DV based on SOL might work.

[2anewu]

Thank you!!!!!! I guess I better get busy.

[llecs]

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2anewu wrote:

Thank you!!!!!! I guess I better get busy.

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No problem! It would have been different if the OC was reporting. Utilization counts then if it is a revolving account. DW has a CapOne CO from several years ago. The balance on TU is over $750, but the CL is only $250. So, she has a utilization of 300% for that acct accounting for 25% of her overall utilization. CapOne updates the balance to $0 on EQ and her score jumps to nearly 60 points overnight. If a CA did that, there wouldn't be any change in score.