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Experian FICO 9 147 Point Increase in 30 days!

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Valued Member

Experian FICO 9 147 Point Increase in 30 days!

After paying off 33K worth of credit card debt with a Lending Club personal loan, my credit score for all scoring models has gone up at least 100 points. Here's some examples: Exp Fico 9, Equifax Bankcard 8, TU Fico 8.

Screen Shot 2019-06-08 at 10.58.40 AM.pngScreen Shot 2019-06-08 at 10.59.42 AM.pngScreen Shot 2019-06-08 at 11.01.02 AM.png





Message 1 of 36
35 REPLIES 35
Valued Contributor

Re: Equifax 147 Point Increase in 30 days!

Outstanding results!  Is the loan reporting yet?

Message 2 of 36
Valued Member

Re: Equifax 147 Point Increase in 30 days!


@Hasselfree wrote:

Outstanding results!  Is the loan reporting yet?


Yep first reported mid-May. 





Message 3 of 36
Super Contributor

Re: Equifax 147 Point Increase in 30 days!

Cool!  Can you let us all know what your aggregate revolving utilization was before the loan and after the loan reported?  Also how many CCs did you have and what was the highest utilization on the highest one(s)?  With a gain like that, my guess is that you went from maxed out utilization to ideal (under 8.9% overall) utilization?  Also, did you have no open loan previously, so adding this loan resulted in going from 0 to 1 open loan?

Message 4 of 36
Community Leader
Super Contributor

Re: Equifax 147 Point Increase in 30 days!

Well done!

Message 5 of 36
Valued Member

Re: Equifax 147 Point Increase in 30 days!


@BrutalBodyShots wrote:

Cool!  Can you let us all know what your aggregate revolving utilization was before the loan and after the loan reported?  Also how many CCs did you have and what was the highest utilization on the highest one(s)?  With a gain like that, my guess is that you went from maxed out utilization to ideal (under 8.9% overall) utilization?  Also, did you have no open loan previously, so adding this loan resulted in going from 0 to 1 open loan?


My CCs are listed in my sig.

1 open car loan, 2 closed.

1 open mortgage, 1 closed.

1 closed secured loan from my Jet Ski

1 open unsecured loan from Lending Club

 

At the time:

 

BOFA Cash Rewards 12,400/10K limit.

Citi Simplicity 6,500/6,600 limit.

Lowes 6,500/12K limit

Discover IT AU 7,000/7K limit

A few smaller ones paid down.

 

May 3rd compared to June 8th data:

Screen Shot 2019-06-08 at 12.07.29 PM.pngScreen Shot 2019-06-08 at 12.07.55 PM.png





Message 6 of 36
Established Contributor

Re: Equifax 147 Point Increase in 30 days!

Well, that explains it! Going from 42% UTIL to 4% clearly makes a big difference.

 

Congratulations on the big score bump!

 

Message 7 of 36
Super Contributor

Re: Equifax 147 Point Increase in 30 days!


@nyyankees877 wrote:

After paying off 33K worth of credit card debt with a Lending Club personal loan, my credit score for all scoring models has gone up at least 100 points. Here's some examples: Exp Fico 9, Equifax Bankcard 8, TU Fico 8.

Screen Shot 2019-06-08 at 10.58.40 AM.pngScreen Shot 2019-06-08 at 10.59.42 AM.pngScreen Shot 2019-06-08 at 11.01.02 AM.png


Congratulations. I guess there's a lesson in there.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 8 of 36
Regular Contributor

Re: Equifax 147 Point Increase in 30 days!


@nyyankees877 wrote:

After paying off 33K worth of credit card debt with a Lending Club personal loan, my credit score for all scoring models has gone up at least 100 points. Here's some examples: Exp Fico 9, Equifax Bankcard 8, TU Fico 8.

Screen Shot 2019-06-08 at 10.58.40 AM.pngScreen Shot 2019-06-08 at 10.59.42 AM.pngScreen Shot 2019-06-08 at 11.01.02 AM.png


Outstanding increase!!  I have seen a 50+ point before in mine, but 100+ is amazing!

Rebuilding Since 2016
6/5/2019 - Fico 8 Scores - EQ 672 TU 683 EX 674
6/15/2019 - FICO 8 Scores - EQ 682 TU 698 EX 690
8/10/2019 - FICO 8 Scores - EQ 706 TU 705 EQ 689
9/15/2019 - FICO 8 Scores - EQ 710 TU 713 EX 690
Message 9 of 36
Regular Contributor

Re: Equifax 147 Point Increase in 30 days!

That's awesome!







Message 10 of 36
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