DjArcadian Posted April 14, 2008 Report Share Posted April 14, 2008 As my debt to credit ratio changes does it only improve my score when it hits the 50% or 35% benchmark or does my score gradually go up as my debt goes down? Link to comment Share on other sites More sharing options...
isislc Posted April 15, 2008 Report Share Posted April 15, 2008 Only when it hits the 30% benchmark then it will add a litlte more the more you pay it off. Once you get down to 1-9% you should have a pretty good jump by that point. The 1-9% is optimal for Fico spikes. Link to comment Share on other sites More sharing options...
Krash Posted April 15, 2008 Report Share Posted April 15, 2008 OMG, that means at 5 percent that is only a few dollars, if u have a 500 card only put a few bucks on it lol, and with a 2800 card u only get 1 hundred something heheheh.... this is soooo crazy, we penalize you for have too much credit "ie seeking credit" and we hit u if u have a high utilization, then we hit u if u DON"T have a balance, and we hit u if u have more than 25 percent on each card....... OMG I AM ABOUT to blow up..... a bit dramatic i know but gosh! Link to comment Share on other sites More sharing options...
willingtocope Posted April 15, 2008 Report Share Posted April 15, 2008 Keep in mind, the scores you get to see...even the legitmate ones from myFICO.com...are basically the "here's a sucker that credit cards can make lots of money charging interest and penalty" score. What that means is...the score improves if you have lots of cards, that you pay a little on each month. "Utilization" means, you have credit and you pay interest on it. Not in your best interest.If you're looking for a house or a car...ignore the sucker score, and pay off your credit cards. 0% utilization will improve your "mortgage" or "new car" score. 1 Link to comment Share on other sites More sharing options...
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