Credit Score Is Up and Utilization Is Down

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Dylan1982
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Credit Score Is Up and Utilization Is Down

Postby Dylan1982 » Wed Mar 14, 2012 2:06 am

I paid off 2 credit cards ($667 and $1,079). Increased my credit score (according to Credit Karma) from 658 and increased it to 700 (+42 points) and dropped my utilization from 59% down to 51%.

I even made 2 other credit card payments that have not yet been reflected as well as 2 car payments.
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


FutureBillionaire
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Postby FutureBillionaire » Wed Mar 14, 2012 4:10 pm

Great job! Keep paying down your credit cards until you reach 30% utilization or lower and you will see another huge jump.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

Dylan1982
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Postby Dylan1982 » Wed Mar 14, 2012 7:25 pm

Thanks!!!

I think I am going to open a Kohls cc and see if I can get my utilization down a bit more
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
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Postby Dylan1982 » Sun Jul 08, 2012 6:02 pm

This post was made from another thread I made on June 29th 2012...

Just wanted to give an update..

I had to get a Personal Loan on 6/27/2012 of $1,500, my credit union pulled my score with TransUnion. My score came up at 676 (B), and an A with TransUnion is 680. So I was oly 4 points away from being an A. And according to Credit Karma I'm at a 698 (C).

I checked my Credit Karma score today and it was at 695. Also today I opened up 2 Citibank Cards; Thank You Preferred and Diamond Preferred both of them gave me a CL of 2 @ $4,600 (total of $9,200)

So I hurt my credit score with the 2 hard inquiries, but at the same time I helped my credit score by adding more credit thus lowering my overall utilization.
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
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Postby Dylan1982 » Sun Jul 08, 2012 6:07 pm

Now that I have opend 2 new Citi cards (haven't reported to credit karma as of yet) and I got denied by The GM Card (Cap 1) for a CLI, as of today my credit has jumped from a 695 up to 712 - again according to Credit Karma.

Here are some things. When I got my personal loan, my credit was a 676 from Trans Union which is a B.

When The GM Card denied me my CLI, i got my denial letter, my score according to The GM Card (not sure which bureau they use) is a 727..

Also I opened a Kohl's card that hasn't reported yet either.

I am paying off my GM Card balance in full in the next couple days ($7,350) and my car loan ($7,150) I cannot wait to see what my score on credit karma will be
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
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Location: Chicago

Postby Dylan1982 » Tue Jul 10, 2012 11:42 am

Just another update..

Credit Karma has noticed that I have applied for 2 new cards - but still hasn't reported them yet, not till the end of this month I am guessing.

When I signed up my utilization was at ~53%. Now it is down to 39% (just loooked at credit karma.. only 1 card is showing up. The other card has yet to show up. So after taht card shows up the utilization will drop from 39% down to 31%)

My credit score was at 695 and now it is at 716

Again this is all off of credit karma

I am paying off my GM Card balance in full in the next couple days ($7,350) and my car loan ($7,150) I cannot wait to see what my score on credit karma will be
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

MemberSince99
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Postby MemberSince99 » Tue Jul 10, 2012 12:47 pm

Great work. Just keep in mind Credit Karma scores are not true FICO scores which lenders use. My CK score is 693 which is a C on there, but that's with a FICO in the 760s/770s. So your FICO could be quite different (and potentially a lot better).

Dylan1982
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Postby Dylan1982 » Tue Jul 10, 2012 5:13 pm

MemberSince99 wrote:Great work. Just keep in mind Credit Karma scores are not true FICO scores which lenders use. My CK score is 693 which is a C on there, but that's with a FICO in the 760s/770s. So your FICO could be quite different (and potentially a lot better).

Yes you are very correct. I know my FICO is higher bc when I got denied a CLI on my GM Card, it said my score came back a 727 (but it didn't say which bureau it was).
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)



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