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FICO goes from 697 on 100% utilization to 768 on 0% utilization - Thin credit file - Just ONE account


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This is only one data point so take it FWIW.  On a THIN (and I do mean THIN) credit file having ONLY one entry being a 7 year old Cap 1 credit card.  NOTHING else positive or negative on the file.  The FICO score at 100% utilization being 697 went to 768 after the card was TOTALLY paid off. (0% utilization)


This is a FICO 8 score.  Results likely to be different with FICO 10 or 10t.

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The specimen had bad credit in 2010 and decided to ride out the 7 years along with taking the attitude of paying cash for everything.  He got one of those OLD and I do mean OLD Cap 1 secured credit cards that charged and still does a $29 annual fee.  He got the card in 2014 starting off with a $500 credit limit which got up to $2400 in 2017 and hasn't moved since.  He kept the balance close to the limit under the expectation that Cap 1 would give him an increase.  I pointed out that keeping a balance close to the max along with paying minimum balance isn't going to get him a credit increase.  He paid off the card last month and I told him to keep using it but just pay the entire balance off before the statement hits.  I didn't believe that he would go from 697 to 768 by paying the card off.  FICO score was definitely going to go up after paying the card off but I didn't expect a 71 point jump.


I told him don't be surprised if Cap 1 doesn't unsecure the card and/or give a CLI.  Time will tell.  It will probably take Cap 1 six months to figure out that the specimen isn't down to his last dollar.  

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