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The issue with checking FAKO scores is that they do not move when FICO scores move; and they are just as likely to move in opposite directions to FICO when they do move. If you want to know if you had a score impact, you'll need to check a FICO score.
I used FICO ScoreWatch when I was actively rebuilding and it was uber helpful. There are so many posts on these forums from folks who have been frustrated or devastated by watching FAKO scores. This is a time when watching your FICO score will help you know what impact your actions have had; what to do next; and what your real FICO score movement is. I have learned to absolutely positively ignore all FAKO scores. In addition, they provide a helpful FICO simulator specific to your report, along with some of the real FICO reasons your lenders will see when they pull your scores. This is your best friend when trying to hit a goal and watch your progress.
Great - thanks everyone for your help!! So my question is/was....If I see my FICO scores here and they are exactly the same as the last time I saw them (60 days ago or so) even though I've paid my CC balance down as asked, does that mean I got no change/bounce on my score? Or will the score not update for me because it isn't a "hard" inquiry?
@Anonymous wrote:Great - thanks everyone for your help!! So my question is/was....If I see my FICO scores here and they are exactly the same as the last time I saw them (60 days ago or so) even though I've paid my CC balance down as asked, does that mean I got no change/bounce on my score? Or will the score not update for me because it isn't a "hard" inquiry?
Scores can in theory change everyday depending on changes in your credit profile. If your score has remained the same (making sure you pulled the same type, i.e. TU or EQ) then you will know that you did not receive a bump from CC debt pay down.
Also the scores will update whether it is you or a lender who looks at them.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
@Anonymous wrote:Cap One - CL 3000 balance 500 (this is the one we had to pay down, it was initially 2500 for a month or so) This utilization is at 17%
FP - CL 400 balance 350 This utilization is at 88%
FP - CL 400 balance 6 This utilization is at 2%
Overall utilization (utilization is balances compared to CL on revolving) is 22.53%
Hope that helps! FICO also looks at how many accounts are reporting a balance, so even the small 2% card is possibly hurting your FICO just because it represents another card with a balance. As others have mentioned, and the mantra will probably hold true for you as well, best FICO scores with one account reporting less than 9%, all other accounts reporting 0.
I would consider giving priority to paying down the two FP to zero, and then if possible, bringing the Cap One down from the 17% if you can.
Best wishes to you!