How high did your FICO go after paying off CC's?

[Anonymous]

AWWW SHNAPP!!!! YALL DONE GOT ME ALL EXCITED BOUT PAYING OFF THIS DEBT!!! LOL

AUBURN

[Anonymous]

My fico score was in the low 600 it was 619.  And that was because I was close to my credit limits on my credit cards. When I paid off the balance of my credit card it took up to 702.  That is one critical factor to your credit score is how you uses your credit cards.

[Anonymous]

I never use my card and if I do it's just for gas or perhaps a recently hotel reservation which I paid off long b4 my my bill even came out. So your telling me I should see some type of hike in my score? I'll definitely be getting back at you all if that happen.

[Anonymous]

If you are keeping your credit card balance low your score it will not affect your credit score.  What I am speaking is for those who utilized their cards alot and keep balances (high balances).  When they pay those card down to under 20%-0% that score will rise alot.  And paying your bill on time as well will allow you to keep a healthy credit score.  Credit inquires are low impacts, but be careful with that too.  It will low your score around 3-4 points.  That may not mean a lot to some people but if you are trying to buy a home, that middle score needs to be at least 640 for fannie mae.  That 3-4 points will make a differences if your middle score is at a 637.  Just something to keep in mind for those in the market for how purchasing.

[DrMac210]

I just became aware of the cost of high utilization in June.

At that time I had a myFico EQ score of 641 with utilization on my only credit card at 72%.

Over the last month and a half, I paid that down to 28% and my score has gone up 20 points to 661 as of a couple days ago from nothing other than paying down that one card balance.

[Anonymous]

Need advice:   I paid off and consolidating all my credit cards down to one interest free card that is at 9% credit ratio.   I refinanced my second mortgage last spring and since it is new it shows that it is at 97% debt to credit ratio.  This has decreased my FICO score from 740 to 709.   Everything else is good on the report.   What should I do?  Why would the second morgage show up like that?  The Credit union told me at the refinance that I should expect my FICO to climb to the 800's....

[Anonymous]

Just joined hope to learn and increase my credit score. I have been monitoring my score for the last six months and have been able to increase it from 560 to 652 but my goal is to get to 700 for now.

[masscredit]

My utilization has been in the 35-40% range, one of my cards (Barclays) has had a balance of about $3300-$3500 on a $3700 Cl and EX score from here has hovered in the low to mid 670s. I'll have utilization just under 20% in a few weeks and under 10% a few weeks after that.  I'm hoping that will get me enough points to break 700. 

I've read that our best scores can be seen with utilization under 10%. Is it anything under 10% or will 1-4% produce a better score than 5-9%?

[CreditGuy03]

Sounds like you are in the high risk bucket.

Any utilization on you cards will ding you as a threat.

[Anonymous]

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@masscredit wrote:

My utilization has been in the 35-40% range, one of my cards (Barclays) has had a balance of about $3300-$3500 on a $3700 Cl and EX score from here has hovered in the low to mid 670s. I'll have utilization just under 20% in a few weeks and under 10% a few weeks after that.  I'm hoping that will get me enough points to break 700. 

I've read that our best scores can be seen with utilization under 10%. Is it anything under 10% or will 1-4% produce a better score than 5-9%?

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There have been reports that the best utilization percentage varies with the individual, so you might experiment for yourself.

Also, individual card utilization matters, so 3500 / 3700 is a big deal.