Whats better? Upping the score- Score updates included...

[Anonymous]

I am trying to figure out which will boost my score the most....

I have several CCs (12)

One is paid off

One is about 52% UTIL

The rest are basically maxed (98-100% UTIL).   Total owed is close to $16K - I have the ability to toss $10K at them on Nov 7.

What is better? 

Having more paid off in full - having 7 paid in full and 5 still high UTIL (89-90%)? or

Pay more to each card and so they are all under between 60-65% Util. but  pay off the smallest 2 (small balances (less than $600 each) paying in full no matter what!) -

I need the biggest bump possible ASAP. (Rental Application due to separation)

I'm basically at 625's across the board and need to hit 650 to avoid a co-signer

[tubbynerd]

i personally would get every card to at least less than 88% util. Then payoff what you can with whats left

[FireMedic1]

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@tubbynerd wrote:

i personally would get every card to at least less than 88% util. Then payoff what you can with whats left

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+1 agreed

[Anonymous]

Thanks everyone..... wish me luck!

[FireMedic1]

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@Anonymous wrote:

I am trying to figure out which will boost my score the most....

I have several CCs (12)

One is paid off

One is about 52% UTIL

The rest are basically maxed (98-100% UTIL).   Total owed is close to $16K - I have the ability to toss $10K at them on Nov 7.

What is better? 

Having more paid off in full - having 7 paid in full and 5 still high UTIL (89-90%)? or

Pay more to each card and so they are all under between 60-65% Util. but  pay off the smallest 2 (small balances (less than $600 each) paying in full no matter what!) -

I need the biggest bump possible ASAP. (Rental Application due to separation)

I'm basically at 625's across the board and need to hit 650 to avoid a co-signer

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Each and every card over 89% is the killer. Looks like 10 of them. Get them below 89% first. Use the rest of the cash and pay down the highest APR cards equally. Just getting 10 cards below the threshold just might break the 650 mark. Then add any others that hit the next lower threshold you'll gain even more points. Come back and update us. Yes we wish you luck. Shouldnt be a problem unless there are any baddies in the background.

[Anonymous]

Thanks.....the paydowns/offs go this week..... I'll let ya know - and FYI - no baddies in the background - just HIGH util.

[Anonymous]

ok - payments were made late last night/early this AM!   I ended up paying off 6 in full - and getting the rest under the 88% UTIL.   I know I need the score bump - but I also need less interest and min payments so I can tackle the remaining $9500 left to pay....so I did a combination.  

I'll let you know the bump as soon as I know something - as soon as stuff starts reporting I'm going to CCT for the $1 and find out a mid month score!    I'm using CK (I know) to see when the amounts update and then will run the real scores once they do! 

FICO 8 Scores as of now (from my credit cards)

EQ 631

EX 625

TU 625

[SarahJo]

Great job and good luck, very interested to see what happens!

[FireMedic1]

Awesome. Once you see a score change. That will give you move incentive to get the rest paid down. Yes report back please!

[tlittlejohn]

Good Afternoon,

I am following this post being that I too have high util and following the rules on the post to try and decrease them. Good Luck on reporting day