I did a small test with reporting balances on ALL my cards in May and Discover was even maxed out. This just to see the impact on my EQ Fico score. Lost 40+ points and by paying down the next month I got my points back. So you should see a jump - good luck
Thanks to all for their feedback. Maybe I just need to learn patience. Today I got a score watch alert and my score increased by 8 points with no other changes being posted to my credit report. Looks like all is well. I am almost at 700 on Equifax. Yeah!!
I ran a 0 balance on both my Capitalone cards and my Orchard Bank card (now Capitalone) and I was whacked 5 points for not utilizing my cards.
I use my cards I just pay them off each month.
Can anyone tell why this is?
FICO doesn't like to see all of your CC balances at 0. They like to see you use your credit but wisely.
After messing around with mine... My sweet spot is all my CCs reporting $0 except for one reporting 4%. YMMV, that's just what I've found to work best on mine.