Credit Card A Sept balance $7867.00, Oct $2990.00, limit 12.5K
Credit Card B Sept balance $3890.00, Oct $1030.00, limit 15.9K
Credit Card C Sept balance $2423.00, Oct $523.00, limit 3K
Credit Card D Sept balance $2600.00, Oct 500.00, limit 5K
Credit Card C Sept balance $412.00, Oct $95, limit 2.5K
Sept total revolving balances $17192, Oct $5138, 12K drop, or over 70% and no change in score....
Last month the big three scores read TU-662, EQ-717 and Experian - 694. Since then..Ifrom18K in revolving balances, I paid off 12K of it. All of the new balances are reflecting on the newest 3 credit reports. But to my suprise, my score went up only few points, TU to 669, EQ to 724, and Experian remianed the same. I have double checked the Experian report to make sure no new negativ info was reports, and all of the accounts that been paid off show the correct balance and rest of the data is exactly the same as last time I pulled the report. On few cards I left $500 balance, where the credit lines ar earound 10K. Can anybody tell me why Experian score has not gone up, and after paying off so much of revolving debt, which is very large part of the FICO score, why my score has only gone up 7 points. My new mortage lender is requiring the middle score to be at 700to qualify for a construction loan, and I am not sure what else to do to get it there. I thought paying off the revoling debt would raise it at least 6 points. Any suggestions?
Message Edited by hrsod2 on
10-20-2007 08:10 AMMessage Edited by hrsod2 on
10-20-2007 08:22 AMMessage Edited by hrsod2 on
10-20-2007 08:22 AMMessage Edited by hrsod2 on
10-20-2007 08:22 AM
