sorry about that-- I hit post before I finished. I have succeeded in paying everything off to under $500. However, in the last year, I have carried very high balances on my cards. One of my reason codes on Experian today is The outstanding balances on your revolving accounts are greater than the average in your credit category. Well, they aren't! But they were. So, average balance 6 months ago, (or approximate) is calculated in. Good to know, when planning ahead.
I need more coffee this morning. I meant to add my "continued" post to the message about Experian not being a "snapshot" of your credit. They are correctly showing that my cards are paid off, yet they are still giving "high balances" as a reason code. I think TU is doing the same thing. Paying off cards definitely boosts your score, however the formula must ding you for prior high use. Am I right?
