Anyone had a significant increase in their FICO Score by just by paying off CC Debt???

[Junejer]

Keep two reporting a $0 balance and allow one to report a small balance like $10. Good strategy. Don't allow more than 9% util to report, if you can help it. Your scores will get up there if you manage your CCs well, in time.

[daisyduke]

thanks again. i will try keeping a 10 balance on the new card....just to establish a good payment history since my sux so much. 

[Anonymous]

i found out the hard way.  you should keep a balance.  fico stimulator says pay off 90 to 100% over 2 years.

[haulingthescoreup]

Again, though, as mentioned above, that doesn't mean you should drag out your payments over two years. That means if you pay down/off your balances and then remain current with low util for the next two years, your score should be in the projected range.

As casinoannie said, do let one card report a small balance. Most of us lose points if all CC's report $0. But once it reports, pay it off. You don't have to carry balances and pay interest to help your scores.

[Anonymous]

I've been at 0.2.5.6.7 and 9 % utilization and saw no change in score.  Right now I'm at 5%.  My BK will be 10 in Dec.  They must really hold that against me..........sigh.......

EQ -- 698 (at least a year)

TU --733

EX plus --761

PS;  EQ just sent me an alert for an account that's been closed al ong time. 

Message Edited by casinoannie97 on 04-24-2009 09:00 AM

[daisyduke]

Thank you Hauling the score up, this is the plan of action I am going to take. then i can take two years to pay off the rest, with on time regular payments.