Hi all thanks for any info in advance. I just pulled my experian report- I'm right at 600. I have two low limit c.c. with high balances which I know much be messing with my score... what might I expect if I drop my credit utilization down to 15% (which I've been told is optimal) if it's at about 80% now. Will any other c.c. companies and/or auto dealerships touch me after I get that util. down thus increasing my score, or stay right at or around 600? Thanks j80
If I max out all my credit limits I have about a 595 score. If I have them all paid off my score was 768
WOW- big difference chop! Thanks for the info- but does the actual credit line (amount of available credit) make a difference in that score? I have a crap one card for $300, and an Orchard for $700- would that make a difference- it'd be awesome to see that big of a jump in my score if I paid my cards down. thanks j80
If you have charged $300 to Capital One then never carry a balance of more than $149 on the card. Same with Orchard. If your limit is $700 then never carry a balance of more than $349. This will adversely affect your score. Lenders do not want to see more than a 49% balance on any credit card of what the credit limit is.
