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lowered my credit utilization from 62% to 13% but my score did not change.

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Anonymous
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lowered my credit utilization from 62% to 13% but my score did not change.

hellllpppp

last month i loweredmy ccredit utilization down to 62% and I got 22 points accross the board. so this  month, I decided to pay more. I lowered my utilizaion to 13% and I got nothing. Everything is update ,no change to my profile. I decided to call the credi bureau, they said i have to call Myfico. I talked to a nice guys on the phone from myfico and he told me just because I get an alert that the account are updated, it my take up to 45 day for them to fully update my score. I get it, but it just doesnt make sense because my score usually update a day after the alert. can somone please help me. I dont knwo what to do. I have spent over $ 10000 for nothing. 

Message 1 of 21
20 REPLIES 20
Anonymous
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Re: lowered my credit utilization from 62% to 13% but my score did not change.

i went form 62% to 13%


@Anonymouswrote:
You didn't cross any scoring threshold going from 22% to 13%, the next threshold is 9%.

 

Message 2 of 21
Anonymous
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Re: lowered my credit utilization from 62% to 13% but my score did not change.

First off, you did not spend $10000 for nothing. This was a debt that you owed and would have had to pay it sooner or later. You paying it now was probably one of the best things you can do to get that CU % down. It may not affect your report this month, but next watch it skyrocket. Just get the % lower if you can, and keep it low. CU % is a big determining factor in your scoring.

Message 3 of 21
Anonymous
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Re: lowered my credit utilization from 62% to 13% but my score did not change.

I know. I feel good knowing that I dont owe anyone money but at the same time I cant help feel bad.  like you said utilization play a big role, except for mine. i have seen people pay $ 100 and get 40 point. i just cant figure out what is going on. it is hard to fix something if you dont know what it is

Message 4 of 21
Anonymous
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Re: lowered my credit utilization from 62% to 13% but my score did not change.

Patience is a virtue. Let your CU% lower more by making mroe payments and see what it does next month. I just hope you were in a good position to drop the % and not leave yourself with a low bank account for daily use. Don't want to need to rack up the % again.

 

Are you sure the new score reflects the lower percent?

Message 5 of 21
Anonymous
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Re: lowered my credit utilization from 62% to 13% but my score did not change.

Yes, all of them. I wont be using the card. I am just trying to  get my score up to apply for a mortgage. I only have two cards with balance witch i will pay when the next payment if due. 

Message 6 of 21
Anonymous
Not applicable

Re: lowered my credit utilization from 62% to 13% but my score did not change.

If you list out all of your accounts with their balances and limits both before and after this recent paydown, we can give you a better understanding/idea of what sort of change you'd be looking at.

Message 7 of 21
Anonymous
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Re: lowered my credit utilization from 62% to 13% but my score did not change.

i have like 15 credit cards all paid off execpt for 2 

macys limit $ 4100- $473

barclay limit $ 3000-$101

limit on all cards between $ 12000-$1500

1 collection

1 30days /car payment

 

 

Message 8 of 21
Anonymous
Not applicable

Re: lowered my credit utilization from 62% to 13% but my score did not change.

barclay  and macys were max out

wayfair was max out as well 

limit $3000-$0

I had like 4-5 other cards with little balance that i paid .

the collection i am going to pay but i am not in hurry to do.

Message 9 of 21
Anonymous
Not applicable

Re: lowered my credit utilization from 62% to 13% but my score did not change.

Pay it down below 8.9%, not 9%, but 8.9% and see what happensSmiley Wink 

Message 10 of 21
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