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Score jump: lower utilization

Valued Member

Score jump: lower utilization

So I'm expecting a pretty decent bonus in November, in which most will be used to pay off/down debt.  Currently my debt-to-income ratio is about 71%.  I'm looking to get it around 35% after paying off some loans and CCs.  Haven't been late on ANY payments in over 5 years.  What kind of score increase do you think I can expect?  Not looking to buy anything...yet, but I am trying to qualify for a better int. rate on my car, currently 7%.  Thanks.

Message 1 of 5
Valued Contributor

Re: Score jump: lower utilization

FICO does not consider income. Also, your FICO score increases more from paying down credit cards than installment loans. You may furthermore want to read Fico max out CC % and When to pay Credit Card for best Utilization.

Message 2 of 5
Valued Member

Re: Score jump: lower utilization


So considering most of my cards are currently at 90-94% utilization, if I get them down to about 35% or so, roughly how many points increase can I expect to see? 

Message 3 of 5
Valued Contributor

Re: Score jump: lower utilization

I could easily imagine 50-100 points. It all depends on the rest of your specifics, and even then of course we can't be sure. I don't know about FICO, but in the world of Experian, credit cards are considered maxed-out when you have spent 90% or more of the credit limit, so that would work nicely in your favor.

Message 4 of 5
Moderator Emeritus

Re: Score jump: lower utilization

I'd say you woIll see a decent bump in your score.  9% or less is optimal but you will still see an increase.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 5