CC paid Down Without Score Boost

[KeithW]

Two months ago I paid my revolving credit down on several cards from 70% individual util to under 28% and my combined util from 60% to 42%. The new balances all reported, but no significant score increase. Only 5 points on one agency and none on the others. 

[Jnbmom]

First question is where are you getting your scores from ?

FICO scoring thresholds: 8.9%, 28.9%, 48.9%, 68.9%, 88.9%

[KeithW]

myFICO monthly reports

[SouthJamaica]

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@KeithW wrote:

Two months ago I paid my revolving credit down on several cards from 70% individual util to under 28% and my combined util from 60% to 42%. The new balances all reported, but no significant score increase. Only 5 points on one agency and none on the others. 

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I would have thought getting 2 cards down from 70% to under 28% would have given you a significant boost. Perhaps you still have other cards in the over-50% category.

[Creditwiser]

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@KeithW wrote:

Two months ago I paid my revolving credit down on several cards from 70% individual util to under 28% and my combined util from 60% to 42%. The new balances all reported, but no significant score increase. Only 5 points on one agency and none on the others. 

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Something else on you CR's ?  New installment loan ?  Are you on someone elses account,  AU's ?

[KeithW]

I do, but from past experience, this should have done something. Especially since it brown my cumulative balance down under 48%. Nothing else happened, except that we traded in our car and bought a new one. That was just 3 weeks ago and hasn't been reported yet.

[FireMedic1]

The magic number is 30% then 6% from EX. then it really moves.

Small snag at 0% with $292 reported.

[AzCreditGuy]

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@Jnbmom wrote:

First question is where are you getting your scores from ?

FICO scoring thresholds: 8.9%, 28.9%, 48.9%, 68.9%, 88.9%

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Experian seems to not care for these thresholds, for me they didnt and I stayed at 801 while I went from 68.9% to under 8.9%

[SouthJamaica]

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@KeithW wrote:

I do, but from past experience, this should have done something. Especially since it brown my cumulative balance down under 48%. Nothing else happened, except that we traded in our car and bought a new one. That was just 3 weeks ago and hasn't been reported yet.

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Yes, I agree. I would have expected a better than 5 point gain on only 1 bureau after getting 2 accounts down from 70% to under 28%. But who knows? The next one you knock under 50% might net you 12 points.

@FireMedic1  is right that 28% is the magic number, but from my experience, when you don't have the wherewithal to get everything down to 28%, your best bet is to concentrate not on 28% but on 48%; I got good bang for the buck by reducing over-50-percenters to under-50-percenters.

[FireMedic1]

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@SouthJamaica wrote:

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@KeithW wrote:

I do, but from past experience, this should have done something. Especially since it brown my cumulative balance down under 48%. Nothing else happened, except that we traded in our car and bought a new one. That was just 3 weeks ago and hasn't been reported yet.

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Yes, I agree. I would have expected a better than 5 point gain on only 1 bureau after getting 2 accounts down from 70% to under 28%. But who knows? The next one you knock under 50% might net you 12 points.

@FireMedic1  is right that 28% is the magic number, but from my experience, when you don't have the wherewithal to get everything down to 28%, your best bet is not to concentrate on 28% but on 48%; I got good bang for the buck by reducing over-50-percenters to under-50-percenters.

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Yep and then when you break the 9%. Booyah!