UTil from 34% to 0%. Can't wait to see the score

[denver133]

Thanks to a nice little Xmas bonus from my boss I was able to get the last of my credit card balances paid off.   2 months ago I was near 94% Util and brought it down to 34% in a month. (Thank you to this site for teaching me how my score was effected.) My last report I saw a 76 point increase.  Now that I paid off the last of my 34%, I am really excited to see where my score ends up.  Any thoughts on an average increase?

[Anonymous]

Awesome to hear! I would def love to hear how much your score jumps when you get down to 0% as i am about at 30% also and im gonna pay it off. so were in about the same position. Im sure it varies per person per whats in there credit report but im sure were both expecting a jump. I wouldnt expect more than  what you got last time tho that was quite a bit. Congrats!

[Anonymous]

Hi denver,

FICO usually likes to see some current usage of revolving accounts - so many folks get theie highest FICO scores when they let one revolving account report a small balance, and the remainder report zero.  All revolving reporting zero may ding you a few points.

Congrats on your exceptional paydown!  Woot-woot!

[denver133]

Thank you for the info beam.  I have a C1 rewards card that I use for only gas.   The $34. per month is what I let go through the billing cycle.  Figured that would be suffeciant on a $1K CLI. 

[Anonymous]

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@denver133 wrote:

Thank you for the info beam.  I have a C1 rewards card that I use for only gas.   The $34. per month is what I let go through the billing cycle.  Figured that would be suffeciant on a $1K CLI. 

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Oh, yeah!  That'll do you gloriously.

Congrats!  I can't wait to see the score as well - on your perfect and almost 0%

[larinoriani]

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@denver133 wrote:

Thanks to a nice little Xmas bonus from my boss I was able to get the last of my credit card balances paid off.   2 months ago I was near 94% Util and brought it down to 34% in a month. (Thank you to this site for teaching me how my score was effected.) My last report I saw a 76 point increase.  Now that I paid off the last of my 34%, I am really excited to see where my score ends up.  Any thoughts on an average increase?

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Good job on paying those balances down! You'll see a considerable increase on your FICO's, hard to predict since that depends on how the rest of your profile looks.

Assuming you don't have any baddies, I'd guesstimate you could see around 50-point increase....

And thanks to your boss too!

[Anonymous]

U should recive a pretty decent jump.  My credit profile had some pretty bad marks on it and I recieved a 70 pt jump going from 101% util to 7%.  Great job and keep it going.

[denver133]

Ran my report this morning to see if anything was posted.  

My one of my cards still is showing a balance of $300 however I know it's paid.   Another is showing the $2 balance so that is fine.  

EQ went from 625 to 699!!!!!    TU went from 632 to 674!!!   

I am totally stoked!   I know that the next time I run my report, C1 will have reported that other lower balance and should boost me past the 700 mark.   So happy! 

[MarineVietVet]

Excellent news! You should hit the big 7-0-0 very soon..

Edited for a typo.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

Wow big congrats!!!! Keep keeping us posted!!