Not enough info to hazard an educated guess but I would be suspicious of a 115 point jump in your score even if you were to go from 90% utilization to under 10%. How old are the accounts how long have you had cards? Lots of questions not enough info.
gandalfdawize wrote:Looking for a little advice on credit card utlization. I currently have 10 credit cards with varying credit lines from $25,000 to $5,000 and am currently $101,000 in credit card debt with my Fico score 604. I would like to purchase a home and want to increase my score to over 720. I have $107,000 in my stock portfolio which I will cash out and would appreciate advise on how best to pay down my credit cards. Five of the credit cards DON't report the amount of the credit card balance where the other cards that do report the balance total about $57,000. The fico simulator indicates that my score will go to over 720 if I pay down $55,000 in debt in one month. Should I pay the credit cards off first that do report balances first to get the most impact or should I evenly distribute the debt across the board for all the credit cards. Thanks