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Just kind of thinking out loud to myself here, but could this be a case of bucketing? Do lower utilization tiers fall into the bucketing thing?
Congrats!
Thats good news...congrats!!! I can't wait to see that type of progress when my utilization goes down on a couple of my cards!!!
@Anonymous wrote:
Thank you guys! So do you think it was just getting out of that "maxed out" threshold on that credit card that made it boost so much?
Sometimes there's no way to know exactly what causes a score change.
Just be grateful and keep moving forward.
@Anonymous wrote:
So I have been paying down on my debt now for awhile, and my last real "problem child" is (or was) a maxed out chase card. It used to be at like 6997/7000 as far as utilization. Now, its down to 5903/7000 and paying a bunch every month.
I have only been working on this card for like 3 months, and saw very little score difference (maybe like plus 2 or 3 here and there)
Logged in today and it jumped 40 points to 722 EX, 715 EQ, and 725 TU!. Now, don't get me wrong I am thrilled by why a sudden big jump?
Quickly, because I gotta get going to work but baddie still on there 30 day plus Mar 2013, two other card at 280/4600, 0/3500, and a LOC 100/2500. No inqs fell off, only got like 3.
oh also could it be me paying off my LOC in early march? Two statements generated since then, but it was at 2340/2500.
Thanks guys!!!!
Congratulations on the score increase!
A large jump like that almost always is the result of some negative falling off, a late payment, charge off or BK.
You mention one 30-day late. Were there others in prior years, like 7 years ago, late payments of 30 or 60 days? Any old charged off accounts in your past?
Having those fall off is almost the only reason for such a large increase. It's a good increase, but usually points to direct baddies, not a $1k utilization change like you just made.
My score recently jumped by about 50 points to over 800 and i couldn't figure out why. Then I realized that it was 7 years ago about this time that I made my last past due mortgage payment. I had completely forgot about them, but it was about March 2008 that I made the last of those past due payments.
Well, thats the thing that baddie from March 2013 is the ONLY baddie I have ever had on my credit report, I did not have anything negative from 7 years ago fall off.
@Anonymous wrote:Well, thats the thing that baddie from March 2013 is the ONLY baddie I have ever had on my credit report, I did not have anything negative from 7 years ago fall off.
Then I will hazard a guess that this late has reached some two year aging milestone, so the millstone on your score is lifting.
Congratulations!