FICO scores - based on current util data only, or does past util have affect too?

[Anonymous]

Does the FICO score change directly based upon your current credit data? In other words, if you had a really bad FICO because you have $50,000 in credit card debt, but suddenly inherited $50,000 and therefore had no credit card debt - would your score immediately (upon the paid balances being reported) shoot up?

Or is there some residual factor - the score takes into account your current data, but also your data from a month ago, or 2 months ago, 6 months, 12 months, a year etc???

I know your payment history cannot be erased and would still affect your score (unless the company buys into a GW letter or the like), but the util can change immediately. Is there a lasting residual affect though?

Thanks to all!

[Anonymous]

The score itself only goes on the current reported balances.

[Anonymous]

Only your last payment and current balance that I can see is taken in to count.

[Anonymous]

Well, if you had a $500,000 CL on the card, $50,000 would only be 10% util. 

Kidding aside, I think it would have a significant impact...about a year ago I started losing 7 or 8 points when my util. went up to between 10% and 20%, then the following month it would go back up 7 or 8 points when the util went below 10%...kept doing that, up 7 down 7 up down and the only thing changing was the util. from month to month (FICO doesn't seem to care one bit if the entire balance is paid off each month...all they care about is current reported balance). 

I can only wonder what the point rate of paying off 80% util would do...probably skyrocket overnight for a cc with a long payment history in good standing.

Dan

[Anonymous]

Earlier this year I went from 96% utilization to 8%. I saw a 35-45 point jump on my reports. That was one large payment so I saw the immediate jump as soon as the credit reports updated with the new balance.