Score Change?

[Anonymous]

wondering how much of a score change i could see, based on paying down CCs between now and 1 June 09.

currently (balance to limit):

Card 1 -- 6100 of 6500

Card 2 -- 0 of 2500

Card 3 -- 635 of 4700

Card 4 -- 2700 of 5600

1 June will be:

Card 1 -- 4300 of 6500

Card 2 -- 0 of 2500

Card 3 -- 0 of 4700

Card 4 -- 2300 of 5600

Thanks for your insight.

[llecs]

Congrats on the pending paydown.

If your mix of credit is OK (at least 2 revolving and one charge card like store, gas, etc.), and assuming you hit these goals with no CLIs or CLDs, and assuming nothing falls off, gets added, or changes between now and then, then I would hazard a guess of 25-35 FICO points. I'd guess 15-20 for the utilization decrease and an additional 10-15 points for bringing 1/2 of your CCs to $0.

ETA....this may be a stretch, but if you brought the first card even lower to $3200, I bet you'd see an additional 20 points beyond what I just said for bringing all of your balances below 50%.

Message Edited by llecs on 03-12-2009 02:30 PM

[Anonymous]

thanks for the insight!

Card 2 is a gas card. Other 3 are general CCs. Will shoot for an even lower balance on the first card.  I'm looking to purchase my first home.   Scores are decent enough, down payment is decent too, just need to work on getting to a low utilization.

Message Edited by MsDonesha on 03-12-2009 02:46 PM