Lowering utilization

[Wildcats72]

I just lowered my utiliation from 12% to 5%. Will i see a good jump in score or just a small one?

[Revelate]

---

@Wildcats72 wrote:

I just lowered my utiliation from 12% to 5%. Will i see a good jump in score or just a small one?

---

Small but should be distinct, 7-10 points I'd wager based on the scores in your sig.

[RonM21]

Agree. You should. The only way you would not is if something else triggered a decrease that weighed heavier at the same time.

[Anonymous]

I'm not sure I saw any increase at all in dropping my overall utilization from 44% to 5% which was quite shocking to be honest.  My scores today are about the same as they were 4-5 weeks ago, and during that time that's what my overall utilization has dropped to and has been reported to all bureaus as being.

[Appleman]

Did you add new inquiries and accounts to drop the utilization? Or did you pay cash to lower the utilization or even a personal loan?

Various scenarios could account for little net change in a score.

[SouthJamaica]

---

@Wildcats72 wrote:

I just lowered my utiliation from 12% to 5%. Will i see a good jump in score or just a small one?

---

Good

[Aahz]

---

@Wildcats72 wrote:

I just lowered my utiliation from 12% to 5%. Will i see a good jump in score or just a small one?

---

Congratulations on your significant reduction in debt!  I'd be much more excited about that then concerned over my FICO change.

Finances are more important than FICO

[Anonymous]

---

@Appleman wrote:

Did you add new inquiries and accounts to drop the utilization? Or did you pay cash to lower the utilization or even a personal loan?

Various scenarios could account for little net change in a score.

---

No new inquries; I have 0 inquiries across all 3 bureaus currently, have not been HP'd in about 15 months now.

I paid down my utilization with about $3500 cash from savings.  Also in this time I've had 2 more minor baddies (30/60 day lates) come off my report as well as paying down an installment lean to 69%.  All of these things combined at best have resulted in 3-5 points gained in the last 4-5 weeks, which really isn't at all significant IMO.

[Aahz]

---

@Anonymous wrote:

---

@Appleman wrote:

Did you add new inquiries and accounts to drop the utilization? Or did you pay cash to lower the utilization or even a personal loan?

Various scenarios could account for little net change in a score.

---

No new inquries; I have 0 inquiries across all 3 bureaus currently, have not been HP'd in about 15 months now.

I paid down my utilization with about $3500 cash from savings.  Also in this time I've had 2 more minor baddies (30/60 day lates) come off my report as well as paying down an installment lean to 69%.  All of these things combined at best have resulted in 3-5 points gained in the last 4-5 weeks, which really isn't at all significant IMO.

---

And how many negatives remain on your reports?

Dirty reports rarely get decent size bumps.  However, when that lest neg finally falls off most see a 75-125 jump across the board.

[Thomas_Thumb]

---

@Aahz wrote:

---

@Anonymous wrote:

---

@Appleman wrote:

Did you add new inquiries and accounts to drop the utilization? Or did you pay cash to lower the utilization or even a personal loan?

Various scenarios could account for little net change in a score.

---

No new inquries; I have 0 inquiries across all 3 bureaus currently, have not been HP'd in about 15 months now.

I paid down my utilization with about $3500 cash from savings.  Also in this time I've had 2 more minor baddies (30/60 day lates) come off my report as well as paying down an installment lean to 69%.  All of these things combined at best have resulted in 3-5 points gained in the last 4-5 weeks, which really isn't at all significant IMO.

---

And how many negatives remain on your reports?

Dirty reports rarely get decent size bumps.  However, when that lest neg finally falls off most see a 75-125 jump across the board.

---

True, Inverse was bumping up against a ceiling with his dirty profile that had two tax liens. If a profile has more than one PR, the score jump comes when the last one is removed. In Inverse's case, his score bump was 85 to 100 points. As I recall, CAPTOOL's increase was in the 60 to 70 point range.

If the PRs have some age, a likely boost when the last record is removed would be 60 to 100 points - IMO.

It is unclear how much an aged late or group of lates being removed would affect score. Likely depends on severity of late(s). Also, if lates of the same severity still remain on file then score is unlikely to improve due to a couple falling off. I don't think lates are QTY binned in Fico 08. Not sure about Fico 09 (some reports suggest Fico 09 may be more forgiving toward one or two isolated 30 day lates)