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Terrified of massive decline in FICO!

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New Visitor

Terrified of massive decline in FICO!

So most of us were taught to only use our credit cards for emergencies and only if you have the money for your purchase available in your bank. Well that's not what I did, but regardless of how irresponsibly built my FICO from 504 to 648 in one year, I think I messed up. I had some unexpected charges come up in the span of one week that put me from 18%Utility to a whopping 50%. I'm worried about this because I've built the score from the bottom up with only one auto loan and multiple credit cards. I've never been one to make minimum payments, I always pay 90% of the balance before the statement closing. Will this hurt me drastically? Will they cut my credit lines down lower? Someone help me out pleaseee!! I'm going insane trying to figure it out
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Valued Contributor

Re: Terrified of massive decline in FICO!

Don't over analyze it. Just pay down your debts over time. 


(10/05/18)
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Regular Contributor

Re: Terrified of massive decline in FICO!

You will have a drop because your utilization is higher, but once you pay it back down you'll be fine. Then work on keeping the utilization below 10%.


| TCL = $233,600 | TU FICO 8: 790 | EX FICO 8: 778 | EQ FICO 8: 792 |
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