Hi, not my accounts, thank god. question is how much of a score bump could one realize in the below scenario if one pays the card down to 100$. EX is @ 666, both the card and equity line have flawless payments since 2012 and both have been maxed out for years. both coded as revolving accounts. I have no idea if an equity lines weight is the same as a card which is why I am asking. Thank you
@bourgogne wrote:
@GApeachy wrote:Edit to add: idk
but....Everytime I pay down my equity line, even by a few hundred, I get at least 4 points. I'm at 82% utl.
your answer, while appreciated, has nothing to do with my query
question is how much of a score bump could one realize in the below scenario if one pays the card down to 100$.
yeah, sorry......I pulled a Forest Gump I guess 
@Anonymous wrote:Are these two accounts the only revolving accounts? If not, we'd need a list of all revolving accounts with their credit limits and balances. (If the person has closed accounts with a positive balance we need to know that as well.)
Does this person have a completely clean report? No lates, collections, etc. on any accounts? That's also relevant for people making guesses as to how much score boost would be possible.
Your proposed scenario is to pay the card down to 100k. Do you mean pay the equity line down? It looks like the card currently has a balance of roughly 21k.
Finally, in the paydown scenario, would the person still have a revolving account at > 90% utilization? (I.e. only one account is being paid down?)
Hi CGID, its been a long time, hope you have been well. sorry I was not more clear. the card cut is on 1/17 and it will be paid down to $100 before then. 4 month late on student loan, co on 8/17 on a $7.5K chase card, now reporting `Paid, was a charge-off' at some point I am going to try and get that removed based on some medical issues that were going on with the man. he had a stoke on 8/17 and lots of issues leading up to it hence the lack of focus on his credit. he had a PFO procedure done just yesterday. I have known the individual since 1975, he is a very dear friend. lots of card offers btw, chase, amex, etc. his file age is good, just some recent hiccups. I am afraid the equity line will stay pretty maxed out until he can do a refi but if it will help to toss a few dollars at it he can do that. I was incorrect, his ex is 660 right now. just a wild guess would be good. it has to be paid down so its a moot point, I will report back how the score changed, i am just curious. he has a solid relationship with WF, long standing loads never late, card never late, etc. any ideas or comments would be greatly appreciated. Thank you very much.
I don't think this file is being negatively affected by the HELOC. I have a second mortgage which is viewed as a LOC by two bureaus, the Utilization is 98.7% and they are both like #shrug. My FICO 8 scores are 840-842.
The revolving credit card is another matter. High utilization on that has an impact on score. But that's still not what creates the 660 score.
The two baddies (plus any other not listed) are what are causing the score to be mid-600s.
Paying down the revolving credit card will help some, could get closer to 700, but with two baddies, the file has a ceiling preventing much improvement in score.
IMO and exp you will see around 10- 15 points per threshold crossed. Use this as an estiamted guidline. Please disregard thought this was about CC's.
