I'm by no means a credit expert sitting at mid 600's but those balances are still really high. Especially the 5000/4800. I understand they want a "idea" of what it might jump up to but I dont really think that much, but stranger things have happened.
Good luck original poster 
I hope you bump what you need it to.
@Booboo71 wrote:I'm by no means a credit expert sitting at mid 600's but those balances are still really high. Especially the 5000/4800. I understand they want a "idea" of what it might jump up to but I dont really think that much, but stranger things have happened.
Good luck original poster
~630-650 best case scenario with "perfect" UTL if we're seeing dips into high 500's as it is.
Although I have never filed bankruptcy (thank G*D) Ive managed to crawl/claw my way up from a EQ 520, Trans 540 and most embarrassing 498 EX) this was 2011/2012. I watch my EQ take major slaps for apping to much and Experian is in its own universe but Transunion by far is my highest score (Jan 2015-674) Although Im sure its dropped some from apping for chase. (approved though!) So its a long haul but I notice some people jump 100 points within a year or less.
My scores as of Jan 2015
Equifax: 640
Trans: 674 (sure its lower now though)
Experian: 649
@Anonymous wrote:
@NRB525 wrote:
@Anonymous wrote:Hello,
My name is David. I have several credit cards and would like to list for you the credit limits, my current score and tell you last months balances compared to the balances that will be reported this coming month. I would like your opinions as to what affect these actions will have on my score.
I will list 3 columns in this order.............CREDIT LIMIT, LAST MONTH BALANCE, NEW BALANCE
1500.00 1453.97 740.00
1750.00 1757.46 850.00
1500.00 1482.98 740.00
900.00 854.79 440.00
400.00 249.87 180.00
500.00 450.42 240.00
5000.00 4904.23 4800.00
400.00 382.93 180.00
As you can see we dropped the utilization to below 50% on most of the cards. One we are not able to at this point. Also, I just paid off a signature loan that was max owed $2000 and was paid off last month. Monthly payment on that was $177.
Other than the above. I have an auto loan with Ford Credit. It's four months old and in perfect standing. Owe $23500 on that.
Current scores are as follows
TU = 612
EX = 592
EQ = 597
Looking for a dramatic bump. The TU score WAS 597 a week ago and ONE of the cards reported a balance change and TU jumped 15 points.
What can I reasonably expect in a month when all of these balances report?
Thanks
David
Congratulations on reducing the balances that much that fast. It's an acomplishment!
Do you have any lates or bad situations in your past? The scores in low 600's look like something else is going on in the past?
Who are the cards with? Can you add the bank and card name to each row? Depending on which they are, there may be some steps you want to take to increase available credit lines to help with the utilization count.
And while you should see some bump at 50% utilization, there's more balances to pay down for the next significant increase in scores.
We are two years away from the discharge of our BK. Also, our score was up to 630 about 12 months ago, however, we financed a car through our credit union.......hate it....sold it a month later and financed a different one.............sold it for more than I paid and bought a new one in November, which was financed through Ford Credit. Also, Last Feb, we took out a $10,000 signature loan from our Credit Union for some home remodel. The remodel cost more than we borrowed (unexpected surprises) and we ended up maxing out credit cards to get it completed. All the new credit caused the score to drop drastically. Since the BK, there have been no lates......not even one day. The BK was the result of two back to back job losses and major financial upheaval.
Anyway...........Two of my CC are through Capital One (1750 credit limit and 1500 credit limit), one is through Citi Bank (1500 credit limit), I have one through my credit union that is from Elan Financial ($5000 limit), One Speedway Gas Card (400 credit limit), one through a horrible Credit One ($400 limit), Younkers (900.00 credit limit), Walmart (500 limit).
Thanks for your input.
Thanks for the additional info. Which BK, 7 or 13? Discharge meaning completion of a BK13 plan or waiting time after a BK7?
The BK would have been a good item to include in your opening post, because that is going to keep down any expectations you should have for score jumps. Until it gets resolved, or falls off each of your bureau reports, at which time you will see the big leap you want to see.
Keep making on time payments and working the utilization down, and wait for the BK to release your scores.
Congratulations! Credit building takes a long time. You are well on the way now.
