Will this drop in UTL make a difference?

[Anonymous]

Showing on my CR is a Cap.One which was previously at 100% UTL now at 1% UTL and my LOC which was previously at 100% UTL and now at 69% UTL. I have an installment loan at 85% UTL. So my overall UTL if you include the installment loan is 52% down from 95% overall last month. Will this make a difference in my score or do I have to get even lower in my % of UTL?

[Anonymous]

It will make a difference-

The installment loan UTL has very little effect-

It's the revolving accounts- Individual and overal UTL-

Get that LOC under 50% and then under 30%

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jlynn wrote:

Showing on my CR is a Cap.One which was previously at 100% UTL now at 1% UTL and my LOC which was previously at 100% UTL and now at 69% UTL. I have an installment loan at 85% UTL. So my overall UTL if you include the installment loan is 52% down from 95% overall last month. Will this make a difference in my score or do I have to get even lower in my % of UTL?

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[Anonymous]

Any guess on points??

It is hard to get my LOC lower since I am using for school (it's a student LOC but isn't showing as a Student LOC, just a revolving acct) but I will try!

Thanks for the advice Timothy..I have read through some of your previous posts when searching the forums for info and your posts are always informative!!

[Anonymous]

Thanks-

Have you tried the score simulator on your EQ and TU reports?

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jlynn wrote:

Any guess on points??

It is hard to get my LOC lower since I am using for school (it's a student LOC but isn't showing as a Student LOC, just a revolving acct) but I will try!

Thanks for the advice Timothy..I have read through some of your previous posts when searching the forums for info and your posts are always informative!!

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[Anonymous]

I did try the simulator but when it asks questions about my first cc..am I suppose to answer with my very first cc or just the oldest one on my CR? Also, same about the loans?

It only gives me an idea of what my score might be, not really how a score will be affected by certain actions though...which is a bummer sort of.

[Anonymous]

Open your EQ or TU report

At the top - click on Fioc Score simulator

go down to "Pay Down the Balances on All Your Credit Cards"

put in the $ amount and 1 month.

[Anonymous]

Unfortunately I don't have that option on my EQ or TU report...I am in Canada and the Cdn. versions don't have that simulator on the reports. Bummer!!

(and yes, my name changed because I can't remember my password for my jlynn account...lol!)

[haulingthescoreup]

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@Anonymous wrote:

Unfortunately I don't have that option on my EQ or TU report...I am in Canada and the Cdn. versions don't have that simulator on the reports. Bummer!!

(and yes, my name changed because I can't remember my password for my jlynn account...lol!)

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You can e-mail customer service and ask if they can combine your posts back to your original name, keeping your post count and so forth.

It sounds like you're talking about the Estimator, or at least that's what it's called in the US version. It's completely blank, and you enter your info in it.

When you do this, just work with the info from one report. So when it's asking you how many new accounts you've applied for recently, if you have a total of 7 inqs, 1 on EQ, 2 on TU, and 4 on EX, just enter 1 or 2 or 4, according to which report you're playing with.

The score range on the Estimator is even broader than on the sims, but it can be pretty inspiring, especially if you need motivation to send GW's to try to remove late payments, or to accelerate balance paydowns, and so forth.

I just found out a few days ago that there's a Canada-specific FICO --thanks for posting!

[RobertEG]

jlynn, TLs that are not in your credit report have no way of being scored under FICO.  Your oldest actual first account may have dropped off after ten years from its closing date, and is lost to you in scoring  Only include accounts still reporting on your CR.

Message Edited by RobertEG on 04-25-2008 09:15 PM