Utilization Matters

[Madein84]

I have been working on my credit this year, and my primary goals for this year is to emilininate my credit card debt.

This month I applied about 3K to my credit cards and saw a significant jump in the score. I also got on collection account marked as closed on my report, which resulted in a  78 point increase in a month - my score went rom 560 to 638!!

Granted, this is a vantage score which doesn’t mean much in the real life, but its still nice that’s its no longer in the 500s. 

I am looking forward to see what the effect is my FICO when it updates end of this month!

[Brooklyn2018]

Great job knocking a chunk out off your cards!👍

Keep it up!!

😊

[Anonymous]

Yes, Vantage Score doesn't include closed collection accounts in your score. Unfortunately, it will have literally zero affect on your Fico 8 score. The reduction in utilization sure will, though!