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Which of these options give more +points on scoring?

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Drifter73
Established Contributor

Which of these options give more +points on scoring?

As the title inquires, I'm curious,  but think I may know the answer. Just want to get others opinions.

 

Do the bureaus give more +points for:

 

A. Paying down 1 95% Utilization balance down to 10% on a high 4fig line?

 

Or

 

B. Paying down the 95% Utilization balance on the high 4fig line to 75% and then paying off x3 other 25% to 60% Utilization balances to 0 on low to mid 4fig lines? 

 

I'm guessing B gives more +points, but figured I would ask to be sure.

 

Just trying to flesh out a 30 to 45 day quick point boost strategy that would benefit me the most in the short term. All the Apy's are relatively the same on all 4 cards, so that's not really a factor.

 

Thoughts? 











Message 1 of 4
3 REPLIES 3
SouthJamaica
Mega Contributor

Re: Which of these options give more +points on scoring?


@Drifter73 wrote:

As the title inquires, I'm curious,  but think I may know the answer. Just want to get others opinions.

 

Do the bureaus give more +points for:

 

A. Paying down 1 95% Utilization balance down to 10% on a high 4fig line?

 

Or

 

B. Paying down the 95% Utilization balance on the high 4fig line to 75% and then paying off x3 other 25% to 60% Utilization balances to 0 on low to mid 4fig lines? 

 

I'm guessing B gives more +points, but figured I would ask to be sure.

 

Just trying to flesh out a 30 to 45 day quick point boost strategy that would benefit me the most in the short term. All the Apy's are relatively the same on all 4 cards, so that's not really a factor.

 

Thoughts? 


I would say your best bet is to get them all down to 48% if you can, then get as many as possible down to 28%.


Total revolving limits 586020 (520820 reporting) FICO 8: EQ 706 TU 701 EX 692




Message 2 of 4
Thomas_Thumb
Senior Contributor

Re: Which of these options give more +points on scoring?


@Drifter73 wrote:

As the title inquires, I'm curious,  but think I may know the answer. Just want to get others opinions.

 

Do the bureaus give more +points for:

 

A. Paying down 1 95% Utilization balance down to 10% on a high 4fig line?

 

Or

 

B. Paying down the 95% Utilization balance on the high 4fig line to 75% and then paying off x3 other 25% to 60% Utilization balances to 0 on low to mid 4fig lines? 

 

I'm guessing B gives more +points, but figured I would ask to be sure.

 

Just trying to flesh out a 30 to 45 day quick point boost strategy that would benefit me the most in the short term. All the Apy's are relatively the same on all 4 cards, so that's not really a factor.

 

Thoughts? 


Fico looks at utilization of individual cards and scores based on the card with the highest utilization %. Although Fico also looks at % of cards and # of accounts with balances, that metric has minimal impact with Fico 8 and 9.

 

Get all cards under 49% utilization. Then, if you don't have enough funds to get all cards below 29%, take one or 2 lower balance cards to $0. The Fico scoring algorithm also looks at aggregate utilization % and to a small extent aggregate balance in $.

 

Card utilization % is scored independent from the card's credit limit.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 3 of 4
Drifter73
Established Contributor

Re: Which of these options give more +points on scoring?

Looks like the advice is consistent.

 

Thanks to you both.

 

I'll implement your advice this cycle.

 

😉











Message 4 of 4
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