How close am I to having my scores go up?

[Winchester2005]

My goal forever has been to get my scores to 758, that's 1 point my highest ever known score back in like 2011.

Went through a very rough relationship (they pretty much just maxed out all my cards) and fall out from getting out from a mortgage (having to advance money on a card to pay off their bills so they could refi it only in their name.)

Any way, I'm too the point where I'm paying on residual balance transfers and things like that, and also 1 card where I had to buy pretty much all my apartment things

Currently at 738 fico, experian 

Of note I got a brand new auto loan, so it's like 100% utilization

Cards:

Usbank 11045/11500 (paying 849 a month to pay it off in a year)

Boa 8510/16000 (paying like 750 a month to get it significantly down by Dec

Keybank 9667/14500 (paying min right now to focus on the other cards)

Citi diamond 2963/4400 (paying min rn to focus on other cards)

Citi double cash 0/9200

Citi custom cash 0/6600

Key latitude 0/7500

Boa2 0/3700

Chase Disney 0/3800

Chase freedom unl 0/2500

Credit union 0/15000

Credit union ploc 0/500

Discover 0/15000

Amex 0/5400

I've been moving a lot of funds around through balance transfers so may not do that (stretching it out from like 4 cards to 8 or so to thin it out would physiologically not sit well with me)

How close am I to get to that coveted 758 do you think?

[fury1995]

You've gotta get that US Bank card down below $8k before you see a gain. Make sure no cards report 70% and over.

[Thomas_Thumb]

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@Winchester2005 wrote:

My goal forever has been to get my scores to 758, that's 1 point my highest ever known score back in like 2011.

Went through a very rough relationship (they pretty much just maxed out all my cards) and fall out from getting out from a mortgage.

Currently at 738 fico, experian

I've been moving a lot of funds around through balance transfers so may not do that (stretching it out from like 4 cards to 8 or so to thin it out would physiologically not sit well with me)

How close am I to get to that coveted 758 do you think?

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Fico looks at # of accounts with balances, aggregate revolving utilization and highest individual card utilization.

Your highest card utilization is at 96%. Anything above 89% is considered "max out territory". Maxed out cards are a red flag that may trigger adverse action such as credit line reductions via balance chasing. Get utilization below 89% asap. Best not to increase # of cards with balances from a Fico score perspective.

Your next 2 highest utilization cards are both at 67%. Once you get the 96% card to under 69%, you could see  a 5 to 10 point score bump - assuming the 67% cards don't go up. After you get all existing cards with balance to under 49% utilization, a + 750 score is possible.

Your current aggregate utilization appears to be $32,185/$115,600 = 27.8%. Dropping all card balances to 49% reduces total to $22,736 => 19.7% aggregate utilization. That's still well above the 9% threshold for aggregate utilization.

You should gain quite a few points when aggregate UT drops below 9% and highest card below 29%. Once those utilization levels are achieved, I would anticipate +760 Fico 8 scores.

[SouthJamaica]

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@Winchester2005 wrote:

My goal forever has been to get my scores to 758, that's 1 point my highest ever known score back in like 2011.

Went through a very rough relationship (they pretty much just maxed out all my cards) and fall out from getting out from a mortgage (having to advance money on a card to pay off their bills so they could refi it only in their name.)

Any way, I'm too the point where I'm paying on residual balance transfers and things like that, and also 1 card where I had to buy pretty much all my apartment things

Currently at 738 fico, experian 

Of note I got a brand new auto loan, so it's like 100% utilization

Cards:

Usbank 11045/11500 (paying 849 a month to pay it off in a year)

Boa 8510/16000 (paying like 750 a month to get it significantly down by Dec

Keybank 9667/14500 (paying min right now to focus on the other cards)

Citi diamond 2963/4400 (paying min rn to focus on other cards)

Citi double cash 0/9200

Citi custom cash 0/6600

Key latitude 0/7500

Boa2 0/3700

Chase Disney 0/3800

Chase freedom unl 0/2500

Credit union 0/15000

Credit union ploc 0/500

Discover 0/15000

Amex 0/5400

I've been moving a lot of funds around through balance transfers so may not do that (stretching it out from like 4 cards to 8 or so to thin it out would physiologically not sit well with me)

How close am I to get to that coveted 758 do you think?

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You can pick up those 20 points by getting your utilization way down.