8k in CC debt PIF

[Anonymous]

How soon will I notice an increase in my FICO score after paying off all credit card debt? Is it a significant change or a small change? I also have 12 inquiries from 11/2018 and they will be removed 12/2020. Will the removals increase my score as well? If so, roughly how much? Any and all info is appreciated.

[Remedios]

Hi and welcome to the forums 

Without providing additional info, no one can even try guessing 

You can start by listing your cards with limits, balances, any loans and negatives (if present) 

[Anonymous]

Ok. I will have that information posted by tomorrow. Thank you.

[FireMedic1]

If your going to pay it all off. Leave 1 account with 10-20 bucks reporting. You dont want all 0 balances. What are your starting scores before the PIF? Or once you post the things @Remedios asked for. Let us know the before and after for great data points for others to see. Welcome to the forums!

[jeboles]

I've borrowed $3000 from my dad and paid all of my credit cards off.  Resulted score increase from 585 to a 641 on Experian.  1 card still hasn't had the statement cut and showing a balance, so my score could increase futher as that card was maxed out on the credit report.

[Remedios]

It's harder to estimate how anything will affect a "dirty" file.
If your aggregate utilization is already below 9%, there will be less gain.
Still, there will be some gain for sure for bringing down maxed card below 9%.
If all your cards report $0.00, you can expect to see a temporary scoring drop till another card reports a balance.
Balance carrying is not necessary, only allowing at least one to report, then pay in full whenever possible.

[Anonymous]

Here is a rundown of my credit file. 12 Inquiries as of 11/2018

Capital One. Opened 08/2010.  CL $750/Bal $702 (Recently PIF)

Capital One. Opened 03/2011.  CL $500/Bal $478 (Down to $200)

Capital One. Opened 03/2011.  CL $750/Bal $644 (Recently PIF)

Capital One. Opened 03/2011.  CL $500/Bal $446 (Down to $200)

Capital One.  Opened 02/2012. CL $750/Bal $702 (Recently PIF)

Applied Bank. Opened 02/2012. CL $2300/Bal $2029 (Recently PIF)

Discover IT Secured. Opened 07/2016.  CL $300/Bal $204 (Recently PIF)

USAA AMEX Secured. Opened 07/2016. CL$400/Bal $339 (Recently PIF)

Celtic Bank   Opened 08/2017. CL $800/Bal $381 (Recently PIF)

Avant/WebBank. Opened 09/2018  CL $750/Bal $758

Citi Secured. Opened 09/2018. CL $200/Bal $168 (Recently PIF)

Barclays Apple. Opened 11/2018. CL $1000/Bal $858 (Recently PIF)

Fortiva  Opened 11/2018. CL $1000/Bal $355 (Recently PIF)

BoA. Opened 11/2018. CL $500/Bal $464 (Recently PIF)

Express $250/$81

Buckle.  $100/$0

J Crew.  $250/$0

Williams Sonoma $100/$0

Childrens Place $100/$0

Neiman Marcus $2000/$0

Target $800/$0

Ulta $100/$98

HSN $250/$0 

Nordstrom $2000/$79.95

All but Express JCrew WS and Nordstrom recently decreased CL

EQ - 597

TU - 625

EX - 604 

All FICO 8

[Harvey26]

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@Anonymous wrote:

Here is a rundown of my credit file. 12 Inquiries as of 11/2018

Capital One. Opened 08/2010.  CL $750/Bal $702 (Recently PIF)

Capital One. Opened 03/2011.  CL $500/Bal $478 (Down to $200)

Capital One. Opened 03/2011.  CL $750/Bal $644 (Recently PIF)

Capital One. Opened 03/2011.  CL $500/Bal $446 (Down to $200)

Capital One.  Opened 02/2012. CL $750/Bal $702 (Recently PIF)

Applied Bank. Opened 02/2012. CL $2300/Bal $2029 (Recently PIF)

Discover IT Secured. Opened 07/2016.  CL $300/Bal $204 (Recently PIF)

USAA AMEX Secured. Opened 07/2016. CL$400/Bal $339 (Recently PIF)

Celtic Bank   Opened 08/2017. CL $800/Bal $381 (Recently PIF)

Avant/WebBank. Opened 09/2018  CL $750/Bal $758

Citi Secured. Opened 09/2018. CL $200/Bal $168 (Recently PIF)

Barclays Apple. Opened 11/2018. CL $1000/Bal $858 (Recently PIF)

Fortiva  Opened 11/2018. CL $1000/Bal $355 (Recently PIF)

BoA. Opened 11/2018. CL $500/Bal $464 (Recently PIF)

Express $250/$81

Buckle.  $100/$0

J Crew.  $250/$0

Williams Sonoma $100/$0

Childrens Place $100/$0

Neiman Marcus $2000/$0

Target $800/$0

Ulta $100/$98

HSN $250/$0 

Nordstrom $2000/$79.95

All but Express JCrew WS and Nordstrom recently decreased CL

EQ - 597

TU - 625

EX - 604 

All FICO 8

You should see a nice bump in your scores at least 20 points or more. I would try to combine your capital one cards you have quite a few.

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[Remedios]

That maxed out Avant card, any payments on it? 

[Anonymous]

Just dropped $100.