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

[Anonymous]

SoFi reported on EQ, and I got a Chase inquiry on EX for my CSP.

Date        CA   $   Debt        Total Line  Util

2016-02-10  EQ  699  $52,822.00  $59,000.00  89.6%

2016-03-28  EQ  726  $34,125.00  $60,400.00  56.5%
2016-04-04  EQ  751  $23,834.00  $60,400.00  39.5%
2016-04-08  EQ  780  $10,635.00  $60,400.00  17.6%

2016-04-10  EQ  771  $10,595.00  $60,400.00  17.5%  SoFi Reported, SW Visa 1%->0%

2016-01-26  EX  713  

2016-02-10  EX  740  $50,258.00  $55,100.00  91.2% 

2016-03-28  EX  766  $22,396.00  $56,800.00  39.4%
2016-04-04  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-05  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-06  EX  773  $22,574.00  $56,800.00  39.7%
2016-04-07  EX  808   $9,209.00  $56,800.00  16.2%

2016-04-10  EX  805   $9,191.00  $56,800.00  16.2%  SoFi Reported

2016-04-10  EX  798   $9,191.00  $56,800.00  16.2%  Chase Inquiry

2016-12-31  TU  694

2016-01-31  TU  696  

2016-02-10  TU  709  $52,822.00  $59,000.00  89.6%

2016-03-28  TU  722  $34,125.00  $60,700.00  56.2%
2016-04-04  TU  735  $24,917.00  $60,700.00  41.0%

2016-04-08  TU  752  $23,947.00  $60,400.00  39.6%

2016-04-10  TU  748  $23,947.00  $60,400.00  39.6%  SoFi Reported

[Anonymous]

I will be adding to this as soon as my report updates.  My last report had my utilization at 85% with a score of 588, will like to see where it goes once it goes down to 0% utilization

[Anonymous]

AMEX finally reported! The EX changes are via CCT.

It's worth noting that on EX, my cards are still reporting minor balances (leftover interest charges at statement close) as follows:

AMEX -> $6, 0.1%

Discover -> $22, 0.3%

SW -> $0

DCU -> $0

BoA -> $352, 3.3%

Amazon (AU) -> $126, 5.0%

Gap (AU) -> $47, 1.6% 

It will be interesting to see how my score changes when all but one of them report zero.

Date        CA   $   Debt        Total Line  Util

2016-02-10  EQ  699  $52,822.00  $59,000.00  89.6%

2016-03-28  EQ  726  $34,125.00  $60,400.00  56.5%
2016-04-04  EQ  751  $23,834.00  $60,400.00  39.5%
2016-04-08  EQ  780  $10,635.00  $60,400.00  17.6%

2016-04-10  EQ  771  $10,595.00  $60,400.00  17.5%  SoFi Added, SW Visa 1%->0%

2016-01-26  EX  713  

2016-02-10  EX  740  $50,258.00  $55,100.00  91.2% 

2016-03-28  EX  766  $22,396.00  $56,800.00  39.4%
2016-04-04  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-05  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-06  EX  773  $22,574.00  $56,800.00  39.7%
2016-04-07  EX  808   $9,209.00  $56,800.00  16.2%  DCU reported, 95%->0%

2016-04-10  EX  805   $9,191.00  $56,800.00  16.2%  SoFi Added

2016-04-10  EX  798   $9,191.00  $56,800.00  16.2%  Chase Inquiry

2016-04-13  EX  826   $4,522.00  $56,800.00   8.0%  AMEX reported, 88.2%->0.1%

2016-12-31  TU  694

2016-01-31  TU  696  

2016-02-10  TU  709  $52,822.00  $59,000.00  89.6%

2016-03-28  TU  722  $34,125.00  $60,700.00  56.2%
2016-04-04  TU  735  $24,917.00  $60,700.00  41.0%

2016-04-08  TU  752  $23,947.00  $60,400.00  39.6%

2016-04-10  TU  748  $23,947.00  $60,400.00  39.6%  SoFi Added

[Appleman]

SoFi.com was a really good thing for my credit portfolio.

I had a stupid amount of credit card debt although I managed it with a great payment history. I am sure I was very profitable for the issuers.

My utilization ran in the 60% plus range for years.

Overall my scores were 710-720 and they are currently 786-803. I still have the same basic debt load but have low utilization <9% on the CCs.

I thought the personal loan (used to pay of CCs) would crush my scores back down but I only saw a 3 point change when it reported (plus 3 on one, minus 3 on another)

[lloyd1981]

Just want to be sure: The SoFi.com in your post (and others) is a finance company. Or so to seems. After a number of issues, from two operations, supply factories going out of business, etc., I went o a legitimate finance company and paid off virtually all of my bills. (I excluded my Business AmEx.) So things have moved along and I'm sitting between 746-801, TransUnion always being the lowest.

I recently ran a FICO on EQ and TU (I have a FICO account, as well as one at Equifax) and when I checked the optional scores, like the ones used by car dealers, banks, etc., as well as the new 9, My scores were all over the place. Expected. What I did not expect to see was that 9 and most of the "undercover" scores take into effect your having a finance company of any type in at least your 7 year history (may go to 10 years). Seems that means when you did go out to get a loan, the only place that would give you one was a loan company, carrying with it one of the four key factors that affect your score in a negative way.

Any experience with that?

[Appleman]

I have the 'Finance Company Account' noted on a few of the FICO versions across a few CRAs. I doubt it is hurting me too much and to be honest, they are helping me a ton with my utilization and scores.

Finance world is changing and I don't think there is the stigma there once was with having a finance company. A few versions may still ding you but not for much (my opinion). 

[lloyd1981]

I agree. My decision was based on best information at the time. Kind of a fakey way to twist getting the job done for the credit report.

I've concentrated on my wife's personal accounts. We never mixed our money or our credit. Because of her business requirements, she ended up with about $125,000.00 line of credit. But she's not so great at managing it. She asked for assistance (an amazing thing after 20 years of being together). First thing was paying off all "charge cards" for stores. Then, using 0% interest offers to pay off high interest cards. Then, rotating the 0 interest offers so all amount paid was against principal. After three years, she still owed about $21,000.00, but that's going down fast. From 19 open accounts to two that are active. Pick your lowest interest cards and move debt. Doesn't change your overall load but 12% interest is so much better than 19%. And 0 is best. And not one account has been closed. May give you a good feeling but it's dumb.

[Anonymous]

An update to my EX via CCT. Dropped 7 points, and the only change I can find is the Amazon card I am an AU on went from $126 to $0. Nothing else seems to be different. Strange.

As an aside, MyFICO hasn't shown any changes at all forever. I'm kind of disappointed with the update frequency.

AMEX -> $6, 0.1%

Discover -> $22, 0.3%

SW -> $0

DCU -> $0

BoA -> $352, 3.3%

Amazon (AU) -> $0, 0.0%

Gap (AU) -> $47, 1.6% 

It will be interesting to see how my score changes when all but one of them report zero.

Date        CA   $   Debt        Total Line  Util

2016-02-10  EQ  699  $52,822.00  $59,000.00  89.6%

2016-03-28  EQ  726  $34,125.00  $60,400.00  56.5%
2016-04-04  EQ  751  $23,834.00  $60,400.00  39.5%
2016-04-08  EQ  780  $10,635.00  $60,400.00  17.6%

2016-04-10  EQ  771  $10,595.00  $60,400.00  17.5%  SoFi Added, SW Visa 1%->0%

2016-01-26  EX  713  

2016-02-10  EX  740  $50,258.00  $55,100.00  91.2% 

2016-03-28  EX  766  $22,396.00  $56,800.00  39.4%
2016-04-04  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-05  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-06  EX  773  $22,574.00  $56,800.00  39.7%
2016-04-07  EX  808   $9,209.00  $56,800.00  16.2%  DCU reported, 95%->0%

2016-04-10  EX  805   $9,191.00  $56,800.00  16.2%  SoFi Added

2016-04-10  EX  798   $9,191.00  $56,800.00  16.2%  Chase Inquiry

2016-04-13  EX  826   $4,522.00  $56,800.00   8.0%  AMEX reported, 88.2%->0.1%

2016-04-15  EX  819   $4,396.00  $56,800.00   8.0%  Amazon 5%->0%

2016-12-31  TU  694

2016-01-31  TU  696  

2016-02-10  TU  709  $52,822.00  $59,000.00  89.6%

2016-03-28  TU  722  $34,125.00  $60,700.00  56.2%
2016-04-04  TU  735  $24,917.00  $60,700.00  41.0%

2016-04-08  TU  752  $23,947.00  $60,400.00  39.6%

2016-04-10  TU  748  $23,947.00  $60,400.00  39.6%  SoFi Added

[Anonymous]

An update to my EQ via MyFICO. AMEX finally showed up.

Also, TU updated but the balance currently I cannot figure out. It's from MyFICO, so no details. I'd love to know but I don't really want to pay to pull my TU report. 

AMEX -> $6, 0.1%

Discover -> $22, 0.3%

SW -> $0

DCU -> $0

BoA -> $352, 3.3%

Amazon (AU) -> $0, 0.0%

Gap (AU) -> $47, 1.6% 

Date        CA   $   Debt        Total Line  Util

2016-02-10  EQ  699  $52,822.00  $59,000.00  89.6%

2016-03-28  EQ  726  $34,125.00  $60,400.00  56.5%
2016-04-04  EQ  751  $23,834.00  $60,400.00  39.5%
2016-04-08  EQ  780  $10,635.00  $60,400.00  17.6%

2016-04-10  EQ  771  $10,595.00  $60,400.00  17.5%  SoFi Added, SW Visa 1%->0%

2016-04-15  EQ  786   $5,966.00  $60,400.00   9.9%  AMEX 88%->0.1%

2016-01-26  EX  713  

2016-02-10  EX  740  $50,258.00  $55,100.00  91.2% 

2016-03-28  EX  766  $22,396.00  $56,800.00  39.4%
2016-04-04  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-05  EX  773  $22,609.00  $56,800.00  39.8%
2016-04-06  EX  773  $22,574.00  $56,800.00  39.7%
2016-04-07  EX  808   $9,209.00  $56,800.00  16.2%  DCU reported, 95%->0%

2016-04-10  EX  805   $9,191.00  $56,800.00  16.2%  SoFi Added

2016-04-10  EX  798   $9,191.00  $56,800.00  16.2%  Chase Inquiry

2016-04-13  EX  826   $4,522.00  $56,800.00   8.0%  AMEX reported, 88.2%->0.1%

2016-04-15  EX  819   $4,396.00  $56,800.00   8.0%  Amazon 5%->0%

2016-12-31  TU  694

2016-01-31  TU  696  

2016-02-10  TU  709  $52,822.00  $59,000.00  89.6%

2016-03-28  TU  722  $34,125.00  $60,700.00  56.2%
2016-04-04  TU  735  $24,917.00  $60,700.00  41.0%

2016-04-08  TU  752  $23,947.00  $60,400.00  39.6%

2016-04-10  TU  748  $23,947.00  $60,400.00  39.6%  SoFi Added

2016-04-14  TU  762  $13,745.00  $60,400.00  39.6%  No Idea Yet, can't figure out this balance

[Anonymous]

one CC said it went up 10 and the other CC said it went down 20.. So it depended on the Credit Bureau and the company. Totally dont understand why it hit like that!