My day of credit reckoning is here, but when really?

[Tiggr]

Good Evening Forum,

I just paid off all of my cards after carrying around 95+% utilization for a year (thanks student loans/aid). I know I was lucky to not see any adverse actions during this time, but I am wondering when I should expect some. What should I expect?  I do know there are some banks who lower your credit limit or even do more extreme things after paying off a balance finally, I'm just hoping to continue being lucky and never get myself in this hole again. Limits are already low, all limits are ib my signature.  

Thanks in advance for any information or related advice! PIF rocks!

[SouthJamaica]

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@Tiggr wrote:

Good Evening Forum,

I just paid off all of my cards after carrying around 95+% utilization for a year (thanks student loans/aid). I know I was lucky to not see any adverse actions during this time, but I am wondering when I should expect some. What should I expect?  I do know there are some banks who lower your credit limit or even do more extreme things after paying off a balance finally, I'm just hoping to continue being lucky and never get myself in this hole again. Limits are already low, all limits are ib my signature.  

Thanks in advance for any information or related advice! PIF rocks!

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I would not expect any adverse action after paying them all off.

[Tiggr]

Update: Saw no negative actions at all, waiting a couple moths still before I request any CLIs

[MissLiz]

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@Tiggr wrote:

Update: Saw no negative actions at all, waiting a couple moths still before I request any CLIs

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Congratulations on paying off all of your cards! Have you seen major score improvement?

[FicoMike0]

Congratulations! Looks like you didn't get chased. You should see big score improvements when everything reports. I've found that amex does 3X clis. 

[Tiggr]

I haven't seen my full payoff yet, I made two payments on the Discover and I just requested (and got) an off-cycle report from them for the second payment. My current scores are in my signature, I'm up 50 points+ and I'm still expecting a bit more. I'm really doubting AMEX will 3x my CLI because I opened their card with a balance transfer and left it there at the limit for a while. Either way, I'm going to try it once everything cools down.

Honestly, the best possible outcome of this is that I learned an important lesson early in my credit life and had no negative consequences other than paying some interest. 

Also, technically it is a good thing for some lenders to see a high util at some point on the card right? Some weird not spoken about much stat.

[FicoMike0]

I don't think anything good can come from high reported utilization, ever.

[Tiggr]

Got impatient and upgraded my subscription on the myFico app, Fico 8 scores are in sig block. 762 726 711, the lower two still haven't seen one of my big payments, my highest score is my true 1% utilization. Feelsgoodman