90% to 50% utilization. How big of an increase in FICO scores ?

[Anonymous]

Just keep in mind that with what's currently going on, I wouldn't depend on a BT to fix this issue. Many have stopped or are limited. That's to say if you're even approved for an new card in the first place given UT%, if it wasn;t considered high back in December then it probably is now.

Plus who's to say the SL will be enough to cover said BT needs, with UT being that high they might start out low. 

A person might consider an actual consolidation loan. Sure it's not like getting 0% on a BT, but it has to be better than paying 29% on a CC when you've run out of BT otions.

[Superduper2014]

I was able to do 49% on one and then she will do 69% on the other. 

the 49% has a 15.99%apr 

the 69% has a 13.99%apr. 

Not that terrible, but still will be around $100 monthly in interest alone if the BT strategy doesn't work out this time for new cards. 

Thinking about a newer Discover IT, US bank, Citicard. 

We'll see what happens. Thanks a lot.

[Superduper2014]

UPDATE FOR DATA POINTS IF INTERESTED:

Both cards were paid down to 49% and scores jumped almost 40 points total. 

First card to report a 49% increase FICO 8 by 17 points

Second Card to report 49% increased Fico 8 by 19 points. 

Next step is

First card was paid down to 29% and it will report on the 3rd of August. What will the FIco 8 score jump to? The Fico score is at 770 

And the second card was paid down to 29% as well. Wonder what kind of increase would that provide. 

Total Utilization is at 18% right now. All 3 scores in the 770+-

Any guesses on what will happne with these scores when 29% starts reporting? 

[M_Smart007]

@Superduper2014, Super nice jump ... Congratulations!!!

[Anonymous]

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@Superduper2014 wrote:

UPDATE FOR DATA POINTS IF INTERESTED:

Both cards were paid down to 49% and scores jumped almost 40 points total. 

First card to report a 49% increase FICO 8 by 17 points

Second Card to report 49% increased Fico 8 by 19 points. 

Next step is

First card was paid down to 29% and it will report on the 3rd of August. What will the FIco 8 score jump to? The Fico score is at 770 

And the second card was paid down to 29% as well. Wonder what kind of increase would that provide. 

Total Utilization is at 18% right now. All 3 scores in the 770+-

Any guesses on what will happne with these scores when 29% starts reporting? 

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@Superduper2014 Congratulations for getting them both at 29, that's a much better look! For reference what was the aggregate utilization before and after the pay down on the two cards from 90 to 50%?

Because you'll be crossing 2 individual breakpoints on 2 different cards just like before, but you also have to take into account aggregate utilization changes, which are King to individual, as a member used to say. 

[SouthJamaica]

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@Superduper2014 wrote:

UPDATE FOR DATA POINTS IF INTERESTED:

Both cards were paid down to 49% and scores jumped almost 40 points total. 

First card to report a 49% increase FICO 8 by 17 points

Second Card to report 49% increased Fico 8 by 19 points. 

Next step is

First card was paid down to 29% and it will report on the 3rd of August. What will the FIco 8 score jump to? The Fico score is at 770 

And the second card was paid down to 29% as well. Wonder what kind of increase would that provide. 

Total Utilization is at 18% right now. All 3 scores in the 770+-

Any guesses on what will happne with these scores when 29% starts reporting? 

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Nice. Congratulations.