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Many moons ago I was part of CB (can’t for the life of me remember my screen name) and did a lot of credit report removing baddies and re-establishing credit. In February 2007 I opened a National City Credit card (secured that did not report as secured) and worked like crazy get all the baddies (judgments, collections, lates…you name it). By 2008 I had been approved for a Wal-Mart, Target, and Chevron cards. These were followed by two CitiCards and an HSBC card. I moved from California to NYC in late 2008 just as the financial crisis hit and did my best to stay afloat. Unfortunately, I got behind with the IRS and they filed a tax lien in 2009. This tanked my scores. I also had two unpaid items, one medical collection and on AAA that weren’t helping me out much either. I did my best to not lose too much ground while I was getting back on my financial feet. I had some savings, but initially no income, so things were a bit rocky here and there. I came back to CB in December of 2013 and decided to give it a go once again. I must say I am so inspired by all the stories and am grateful for a community that shares advice and lessons learned. Whoo-whooo! Here is where I started: December 2013 ScoreSense (FAKOs) Equifax 649 Experian 625 Transunion 667 Here is what needed improvement: Removal of tax lien Removal of Medical Collection Removal of 11 late payments from 2010/2011 spread across three different private student loans Removal of late payment from Target Removal of late payments from CitiCard (on a closed account) Increase in limits on Walmart, Chevron, Target, Paypal, Capital One (former HSBC Union Plus Card), Barclays Upromise Card (former Citicard, then BofA) New credit lines with higher limits Getting Barclays to report my account to all three CRAs, as it is my highest limit ($6,000) January 2014 I was able to successfully remove the medical collection using WhyChat’s method and some rules related to NYC residents (Debt Collection Agency license). Submitted documentation to the IRS requesting my lien be withdrawn. Decreased my credit card utilization by 10% by making payments on all my cards. Sent a request to Barlays to report my account to all 3 CRAs Disputed my lates on the Sallie Mae private loans. Reports updated to REMOVE ALL lates on three trade lines. Miracles really do exist! January FAKOs (ScoreSense) Equifax 689 Experian 664 TransUnion 700 February 2014 With my higher (FAKO) scores in hand, I called PayPal and asked for CLI and they gave me one for $1500. Raising my limit to $1600. (Many CLDs after the lien posted in 2009) Also called Walmart and got a $200 CLI, Chevron increase to $450. Not impressive overall, but helped my utilization. Using 41% of my overall available (reporting) credit. (Barclays still not on my credit report. Requested a CLI increase from Cap1, hard pull on all three (ouch), declined for no report (Equifax, but still shows a hard pull. WTH?) and no explanation as to why they pulled THREE. Grrr. Sent letter. On Feb 26th the IRS sent me a letter approving my lien withdrawal. Sent me form 10916 on the 28th. Checked online and it had not been recorded with the NYC city register. Barclays responded to my request to report agreeing they would report my account to all three CRAs and to allow at least 30 days for an update. Applied for Roaman’s card, approved for $750. No hard. Got a little excited and applied for DCU CC, Discover and re-opening of Citi. Declined on all five hard pulls on EQ. One hard pull on TU. I normally am not app happy, but I got a bit caught up in the thread that SuperCreditMan has going on…apparently unpaid tax liens are more frowned upon than discharged bankruptcy. Who knew??? (Someone on CB, I’m sure.) February FAKOs (ScoreSense) Equifax 689 Experian 692 Transunion 692 March 2014 Baddies remaining on report are: 1 Federal Tax Lien (2009, unpaid) Target - 1 30 day late from 9/13 Citi (closed) - 1 30 day late, 1 60 late from 10/13 and 11/13 Started work to get b* on Transunion to remove the one inquiry. Using MPM and SCP, should see results by 3/31/14. My Citi AA letter cited “no installment loans” on my Equifax as part of the reason for the decline. Submitted a request to SallieMae to report my student loan to Equifax. Also sent a CFPB complaint requesting it be reported. Sent a second letter to Barclays to see when the credit line would report. Also filed a CFPB complaint to speed things up. Sent a letter to all 3 CRA with a copy of the Withdrawal of Lien document and requested deletion. Also submitted an online dispute with Equifax, using the online document upload feature. Sent letter to Discover for recon. Lien was cited as reason fro denial, since proof of lien withdrawal. Sending recon letter to Citi showing removal of lien and proof of a revolving account (which was also listed as reason for denial) Target and Citi responded to my GW request for late removals with a firm “NO”….Target did refund the late fee though and agreed to remove any lates that were more than 24 months old…there are none. Applied Bill Me Later credit (Comenity), hard pull on Eq and denied due to “too many inquiries”…OUCH. March FAKOs (Equifax Complete) Equifax 688 Experian 688 TransUnion 701 Expecting Transunion b* within the next two days. Plans for April Follow up on the removal of the liens from my report. Follow up on the Barclay reporting Follow up on the Sallie Mae reporting Resist the urge to apply for new credit Wrap my head around Equifax B* Lower my utilization Pay my bills on time! :-) Request a reduced interest rate on my CCs once my utilization is lower and the lien is not reporting. My goals are to get the most favorable terms on my existing lines, increase my available credit (CLIs and paying down balances), get my scores to as close to 800 as possible within the next 8-9 months to app for a mortgage. I’ll pull my FICO once the liens are gone from all reports. Any input, advice or guidance would be greatly appreciated! Thanks to BobWang, shifter, SCM and others for providing valuable input and updates. I LOVE CB!

I know it's been discussed many times about how to optimize scores and I recognize this is Karma and therefore useless but I really just chuckle every time I look at this graphic representation of how scoring models consider carrying NO debt a bad thing. "Dear consumer, please run up your credit cards and we'll give you a better grade" Sincerely, CK As an aside: thanks to all that contribute to the Fico science threads, looking forward to seeing Fico 9 variances added to the mix.

Hi, I'm a newbie but I did a little cleanup of my credit 2 years ago using the online disputes, now forward 2 years at the end of last month saw a house that I loved so decided to try to buy it, checked my credit score on my equifax online account and it's at 604 so I'm afraid I might not qualify for a conventional loan, one of the big problems is that I had a high credit card debt ratio with my 5 credit cards (also some settlements and a short sale), about 95% utilization, so immediately called my credit card companies and found out what day they report my new balance to the credit bureaus, so paid off as much as I could and for 2 of my credit cards I was able to increase my credit limit so I lowered my credit utilization to around 20%. now according to a person from Capital One once they report to the credit bureaus it takes them 3-5 business days to update their information, so for example Capital One reported yesterday, so at the earliest I plan on having my mortgage broker pull my credit 12/18 (5 days after), seems to good to be true that when they pull my report it will show my new lower balance, is this possible? or am I delusional and it takes much longer (1-2 months to see results)? I also got desperate and contacted Lexington Law and they're supposed to send some dispute letters. Thanks!

I've got a question for the FICO gurus here. The essential question is a store card vs. major card question, and whether utilization factors in differently for one than another... or if I was just rebucketed. Now, the long version - I have a young, thin, clean TU file. I have 5 revolving accounts, but 2 opened last month have not reported to TU and neither resulted in TU inq's, so for our purposes, I have 3 revolvers: CapOne QS1 opened 4/14 Barclays Rewards opened 8/14 Walmart store card opened 8/14 My October Walmart TU08 FICO, which was purported to have been pulled Oct. 1, was 716, with following utilization: CapOne 0% Barclays 23% Walmart 0% ------------------ Overall Uti: 12% I decided this month I would let Walmart report a tiny balance and zero out the rest and see what my current max possible FICO is: CapOne 0% Barclays 0% Walmart <1% ($5 balance) --------------------------------- Overall Uti: <1% Result: November Walmart TU08 FICO of 710 I expected it would go up, but it went down. So, is there some wrinkle in the utilization scoring that prefers you have that one small balance on a major revolver instead of store card, or did I perhaps get rebucketed for my oldest account hitting 6 months? I'm guessing the latter, but I must defer to the experts.

My Chase Marriott statement cuts on the 26th. For September, that statement showed a horrific balance of $7900, on an $8,000 limit. I was awaiting a large reimbursement which arrived a week later than I expected. On October 1st, I paid that balance off in full, along with smaller balances on my two other Chase cards (they have statement closing dates of the 15th & 17th). When I updated my reports today, all three Chase cards show with a zero balance, updated October 1. I have never had a credit card update mid-month like that, but and I am thrilled I will not be showing that killer utilization all month. Not sure if anyone else has experienced this from Chase, but they already had my banking business and were my two most used cards (Marriott and Amazon), but they just keep finding ways to earn my business. When I look at how bad Lowe's sucks, as does Capital One, it is nice to have at least one credit partner you can count on.

Hello, I would like some advice about whether I should transfer some cc balances around so that all of my cards have the same utilization vs some high/low. I am going to apply for a new line of credit soon (Either Care Credit or Citi Simplicity) to pay for a needed dental procedure that is $4000, and I want to have the highest score possible right now. The interest on the balances is of no concern to me right now, only possibly improving my score in the short term. Some of my balances are near maxed, but a couple are low. Would it help or hurt my score to even them all out to 58% utilization? I appreciate any advice and input in advance. FAKO score: 705 No derogatory/late No inquiries Card 1: 999/3800 26% Card 2: 1844/2200 83% Card 3: 2383/2800 85% Card 4: 2360/2500 94% Card 5: 620/2700 22% Total Utilization: 58%

So I just got an alert that my MyFico dropped from 580 to 529 just now with reason being: "you've made heavy use of your available credit". I do not understand this… I just opened a new secured card that has a $700 limit and a $556 balance report. Obviously that utilization sucks but I have another $700 card that only has $8 balance reported. That would mean I have apprx a 40% utilization which isn't awful. Before this new card reported I just had just the one $700 card with a $450 balance and my Fico was 580. what gives? I know I should obviously get them BOTH to around 10 bucks but I don't understand how it can say I have "heavy use of my credit" and make my score drop that bad when last month was the same… Is it because of my AAOA decreasing my score?

As you might know from previous posts, I bought a major fixer-upper late last year. I had only two credit cards (CapOne ($1,000), Barclays ($2,000). Once the mortgage closed I added Delta Amex ($5,000), Chase Marriott ($8,000), GECRB Lowes ($5,000) and GECRB Ashley Furniture ($5,000). Overnight, with the furniture purchases and the massive home repairs, my utilization went from nearly 0% to nearly 90%. That is fine, I knew scores would take a hit, but the work had to happen to be able to occupy the home, and I knew that I would get it paid down over 2014. 5 months later, my utilization in now under 65%, and still falling every month. When Chase posts at end of the week, I should be under 60%. So here is my question: How low do I need to get my utilization before I go asking for CLIs? Other than the CapOne which got a raise last June through EO, and the Lowe's which got a $200 increase out of the blue, none have seen a limit increase. No doubt, all that new credit and 90% utilization played a factor? Also, when considering increases, does utilization matter overall, or individually, or both? For example, Lowe's has a $5,200 limit and I am down to a $1,500 balance (30%) from having been at or near limit several times and paying it down. Is that an easier target for a CLI that say Delta Amex, where my balance is $2,700 with a $5,000 limit (54%), or would both be the same chance given they are the same age and my overall utilization is what matters? It is a hard situation. I can wait and continue paying each paycheck, and by late fall my utilization will be under 30%. But at the same time, if my credit limits raise from the cumulative $26,000 to perhaps $36,000, my utilization would be in the low 40's today. Thanks for any input! Dave

I've researched a lot of discussions and tip sites to find my answer. it's been confusing with all the different numbers being thrown around. My statement closes on the 10th of every month. Due date is on the 4th. I understand the 25 day difference: check. however, i dont fully comprehend utilization. My understanding is I should have a small balance on my statement (I've heard under 10%, and under 30%) when the statement closes, but should always pay by the due date. So, essentially, if i want to continue this pattern, i have about 6 days (between the 4th and the 10th) to make a small purchase on my card so that it reports on the statement? Also, during the rest of the month, is utilization only what shows up on the statement, or is it a total of the months expenditures? If my credit limit is 400, between the 4th and the 10th i spend 40 or so, pay it off ... then the rest of the month, what? i should not touch my card ....or keep all purchases under 40$ or so...or i can purchase 200$ stuff and pay it off immediately. Thank you for all your help. It's about time i get my life on track. I have a secured card with USAA/350CL my credit scores are not terrible, a Capital One card should be coming in soon. You guys are the best!

I understand that to optimize one's credit score is to be aware of various ratios: the number of credit cards I have the total amount of credit available to me the % of that credit I have utilized (debt to income ratio) My income also plays a role but that's not something I can adjust as easily as the above (!) I understand that other sources of debt (mortgage, car payment, etc) play into some of this. SO, at a given income, is there a magic combination of ratios for the above that will make potential creditors the happiest? Thanks, Steve

Hi everyone. I'm in the process of paying down/off my Capital One Accounts (3 accounts total) that have had high utilization (including 100% and some overlimits) for the past 24 months. The accounts are as follows: $320 limit, opened Dec 2011 (former HSBC) $850 limit, opened May 2011 $2300 limit, opened Aug 2010 (secured) I'm going to ask EO that they unsecure the highest limit/oldest card and consolidate limits. My question for those who've done it is, how long do I need to let these sit with minimal balances before approaching the EO for this unsecure/consolidation request? Also, is there any point in adding deposit to the secured card before asking for them to unsecure it? Thanks in advance

Good evening everyone. I will be coming in to some (long awaited and hard-fought-for) money sometime in the next 8 weeks or so. It will be enough to completely pay off the roughly $7k in debt I currently have spread across 13 cards (store cards and Visa/MC as well). The $7k is against roughly $7400 in credit limits (I know, utilization is crazy - was due to some extenuating circumstances). I've never been late on any of these cards, and am looking forward to paying them off providing a hefty bump in credit score when that util drops from 90% to <1%. SO I've looked at Bob's utilization matrix. My question is regarding how to pay these debts off. Am I better to: 1. Pay everything all at once 2. Pay half when I get my windfall, and the other half the following month 3. Pay everything off in 1/3rds (1 payment when I get my windfall, then remaining 2/3 over the next two months) This high util was a new thing for me starting last year, prior to which I PIFed every month or kept a low balance reporting and paid over two months. So since I'll be paying everything off, I want to maximize the FICO effect. What do you guys think? Pay all at once, or split it up?

Hey Everyone, As I stated in another post, I finally was approved for a CC.... Capital One (unsecured) for $500. I haven't had a CC in about 10 years. Silly I know. I am trying to build my credit because I would really love to buy a home in the next 2 years. I have checked my FICO scores and they are: TU - 585 and EQ - 690 (both from myfico.com). I tried getting my score from Experian and it said " Unfortunately, Experian did not return any data when we submitted the information"?. I have read hundreds of posts from this site and it is extremely helpful, thank you. I searched about utilization and it just seemed to vary. So, I just wanted to ask what my utilization should be? Do I pay the entire amount that I owe every month on the due date? I have read and some say 30%, others to keep it under 50%, etc... As I said I have looked for answers on recent posts, but they all seem to vary. Should I stick to this one CC for a while? Since I probably can't get approved for anything else right now. I tried for Walmart and was denied. Any advice or links would be great! Thanks in advance guys!

Just looking for some input. I understand the debt snowball methods of paying down debt (by lowest balance first, highest interest rate first, highest utilization first, etc.) I have cards with balances below. I plan to pay off Best Buy / Citi first. Aside from that, I plan to pay everything off to around 1-10% util over the next 4-6 months. From a score perspective, and the perspective of how the account looks to the lender, am I better splitting $1200-$1500 per month evenly across tradelines, or using a snowball approach to pay some off immediately, and pay down others over time? Does it look better to the lender to pay a $600 balance over 3 months of $200 per payment or all at once? TL Balance Utilization Best Buy (Citi) $ 385.00 96% BOA $ 360.00 72% Loft $ 100.00 40% Target $ 385.00 77% Walmart $ 80.00 27% CapOne $ 745.00 99% Amazon $ 600.00 75% CapOne $ 2,000.00 86% Macys $ 125.00 38% CapOne (HH) $ 200.00 50% Capital Bank $ 100.00 50% Paypal $ 200.00 67%