Paying down Util from 52% to 0%: Will I see a boost?
Hi everyone!
I recently paid all of my balances on two of my three cc's to 0. The last one I paid down to a $5 balance. My score right now is at a 597 ....Based on what you all know about utilization, should I expect to see a big increase with the paid down balances?
Re: Paying down Util from 52% to 0%: Will I see a boost?
I am waiting to see the same thing. My utilization was in the mid 70%. I paid everything down to zero except one card which I left a balance of $1 on. I am anxiously awaiting for my score watch alerts!!
Re: Paying down Util from 52% to 0%: Will I see a boost?
About six months ago, my utilization was 16% and my credit score was 735. I paid off all of my cards and am at 0% now. My score increased to 742, so I imagine you'll see a small increase for lowering utilization.
Re: Paying down Util from 52% to 0%: Will I see a boost?
I'm in the same situation. I'm really curious. I have 2 cards that were maxed out and 1 that was actually over the limit. My report showed I had $2 of credit available out of a possible $10580! It's been a VERY rough last couple of years. Glad to report I paid 100 % of the cards off and hoping for a spike. I'm currently sitting at 711. I've had too many hard inquiries as well. I will report back if I see any boost.
