SCORING INCREASE

[RobertEG]

In order to get an 850, you need to do two things:

Read John Grisham's book, "The FIRM", and

Watch the Pacino movie "Devil's Advocate"

If you then want to become an associate in either law fim, you can get an 850/

Otherwise, forget it!

[tryingtogetitrightnow]

Hey Robert,

So, I have a utilization of 78% right now, and I'll have it down to under 10% in a couple months. I currently have scores or 602, 542 and 603. From what you're posted here, it looks like I should be able to expect about a 130 point jump in my score? Since %80 dings me 136 points and 10% would ding me 2.1 points. Am I interpreting that right?

[RobertEG]

That would be my rough projection.  However, it also depends on individual card utilizations, and the number of cards with balances, and not just total util. If all cards are under 10% and you started at close to 80%, I am sure you will pick up over 100 pts, assuming nothing changes in other FICO categories.

[tryingtogetitrightnow]

hey Robert,

When it was pulled, I had the following revolving credit utilization:
chase cc: 0%
capital one cc: 1%
capital one cc: 90%
cu cc: 90%
cu line of credit: 98%

and the overall revolving credit utilization was 78%. I have already paid both of the capital ones and the cu credit card down to 0. I will pay the credit union line of credit down to about 50% next month and in a couple months pay it down to 0%.

That's wonderful news that this will increase my score that much! I am also gw'ing one collection and pfd'ing another one and gw'ing a few 30/60 day lates.

I'll let you all know how much my score improves and what changes caused those changes.

[REgnlor]

I'm excited about a potential FICO jump of 100 points that quickly.  Good luck and please post how that works out.  I'm a recovering high util. addict and I'm just understanding how credit scoring really works thanks to myfico.com.