How high will my credit score go after paying off my credit cards?
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Almost 80 points!
I saw my score going up from around 630 to 722in just about 9 months when I went down from 90 utilization during my 0% APR period to just about 10%.
Wow!
That makes you think again doesn’t it?
I’m currently at 95% util. Guess I should re think how I manage my cards…
But what’s more important, overall utilization or per-card util?
My overall utilization is 15%, but I have two 0%APR crads that are almost maxed.
An advisor I used to work with told me that the break point for most credit bureaus is 30%.
Getting below 30% gives you the biggest credit bust. Further down below may or may not increase your score slightly, depending on your other financial data.
But the 30% utilization rule works almost for everyone.
I agree. Paying down your credit cards is will boost your score immediately. My score increased almost 80 points when I payed off my creditcard balance below 30%.
Same here. I went to 0% on my highest limit cc and 2% on my other one that had a balance…total change 3 points. Used one of the cards the next month and it went down 10 points. I’m in the same bucket you are.
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