Will this help my score and by how much??

[Anonymous]

My credit scores are 708 (TU), 685 (EQ) and 677 (EX).  I need a middle score of 700 to qualify for a mortgage loan. 

I have one late payment appearing in 11/2004.  Since then the card has been paid off. I have never made a late payment since.

I have 2 revolving credit cards:

        One with a $1,680 balance and $5000 limit

        One with a $14,818 balance with a $20,000 limit

I paid down the credit card with the $14,818 balance to $5500 bringing my Util down from about 87% to 37%.  Do you think this could give me a 15 point increase on my FICO score?

[PayingTheBills]

See if you can get your CCC to GW that one late payment.  If that's your only baddie, it's hurting, even though its getting old.

Paying down your total revolving util to 28.72% ($7,180/$25,000) from 65.99% ($16,498/$25,000) will (IMO) most definitely net you 15 points.

As I understand it, your score gets a bump at 49% or less, 29% or less, and 9% or less.

Just to throw my recent experience in there (everyone is different of course) I got a 12 point bump for going from 56% to 8%, and I only have one card (which hurts my score a little), and a couple more baddies holding me back than you do.

Let us know how it goes!

Message Edited by PayingTheBills on 03-16-2009 12:39 PM

[Anonymous]

I gained 19 points last week on paying a $180 balance on credit card on first of month.  (my CC limit is only $300!)