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Just paid my cc and going from UTI of 95% to 43%. I have to wait until next week to see what, if any, increase will be in
my scores. Very nervous, hoping for a high boost. I really need to have a midscore of 640 by middle of next month!
Congrats on paying down your util. 95% is considered Max on your CCs. The decrease should give you a score bump, as well as it's always good to pay down debt. Just a suggestion, 9% or lower will give you the optimum as far as Util goes. Good Luck and happy house shopping.
Thanks! I am going to pay the rest of my CC's down at the beginning of Oct. So by the middle of the month should have
9% UTI or less!
Now you're talking!
My Equifax just went from 615 to 668 with UTIL down from 95% to 11% and no other significant changes. You should get a good bump. They really penalize for max out UTIL.
Well I only received a 13 point increase. I am up to 605 for my equifax score and I am at 43% UTI. Hopefully it will be
better next month once I pay down the rest. I really need to have a mid-score of 640.
@Nella wrote:Well I only received a 13 point increase. I am up to 605 for my equifax score and I am at 43% UTI. Hopefully it will be
better next month once I pay down the rest. I really need to have a mid-score of 640.
You should get another boost paying it down further. How far out is your mortgage?
FICO can start moving fairly quickly depending on your report: in my case I didnt have much of anything positive and some random sins of my youth still on the report when I started this building plan back in December '11; was expecting 640 by the end of 2012 and instead hit it back in July much to my surprise and ironic regret... really needed to sort out my old tax lien months ago and I could've gotten clean for a mortgage this year instead of next year. Oh well live and learn
I was really trying to apply for a mortgage by October 15th. My other credit card with a balance of zero should report by
October 12th. We have until Dec. 31st to be out of our current residence and I feel like I am really cutting it close! Hopefully
everything will work out. I really need that mid-score of 640.