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In this video I show you how my credit score has recovered after paying off a huge balance on my American Express card. My credit card was at 96% utilization and I paid it down all the way to 6% credit utilization. I show you my credit karma account so you can see the effect of paying off a high balance card on your credit score.
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47 comments
Watch the original video here: https://youtu.be/cdfHcYtKsU0
Homeboy really took one for the team without anyone asking, now let’s convince graham Stephan to do the same for science purposes of course
Beautiful family!
Getting added as an authorized user to an account or multiple accounts with a long history most certainly does help your avg age of account. Waiting isn’t the only approach. Thanks for doing and sharing that experiment
give a like for this man, dropping his score just to help us
I’m wondering why you didn’t compare your Trans-Union/Equifax FICO score to Vantage scores version of Trans-union Equifax?
My score dropped 100 points but I expected it. I used it to pay part of my home remodeling. My utilization is normally 1-2% but jumped to 16% last month. I paid the whole balance off immediately and continued to maintain a very low utilization and earlier this month. It came back with 103 point surge. Haha higher than my original score.
Do you know if you would get the same results in the UK?
Great info. I am curious if you ever tried the experiment of having several cards reporting a 1 or 2% utilization versus zero? You are penalized for "too many cards with balances", no?
🔥 Crazy how much your FICO score relies on credit utilization (30% of score) 165 points of the score. Makes you realize it's really not hard to get to a solid credit score! Dope video Shifu!
Jeez, that was a month ago?
Nice nice nice,
I did the same thing but with hard inquiries. I did 7 hard inquiries in about 3 months. Went from 805 to 768. Funny thing is I applied to us bank altitude go with 7 hard inquiries and got accepted. 8th inquiry didn’t change my score
For science !
Nice!
Mine is 834, steady Eddie. Can’t get it any higher because of avg age of accounts. Two inquiries that won’t come off for another 1 & 1/2 years. No card debt to pay off. Stuck like Chuck.
That’s your vantage score though. You’re actual score is probably way different
I got in the 800s after 7 consecutive years of good standing status. Good luck if you can find another way quicker than that. I also heard paying a mortgage for 3+ years with a good standing status will boost it up quicker but I wasn't going to try and find out. 😂
I’m confused? My FICO score 8 was 767. I paid off a Self account with on time payments for 1 yr and my score dropped to 736. Really?
My issue isn’t my utilization ( my balance always paid in full because I use my card like a debit card) my issue is in the past I’ve had late payment. 14 from my car loan. Although I’m over 100 points this year because I’m repairing, I’m trying to get those late payments removed. Waiting to see what they say.
Question. I have 5 collection accounts. If I payoff one (pay for removal not negotiated), how much could it help my credit score?
You have no idea how much it’s appreciated that you don’t spend the whole video holding the information over our heads actually makes the whole video worth watching till the end.
Love this! I went from bankrupt to over a 700 credit score in a year and a half. You never know how important credit scores are until you need it.
Technically AMEX is a charge card not a credit card, so it’s a slightly unfair comparison. It’s short vs possible long term debt, which is calculated differently.
I try to keep my score at 843
I took out a share secured home improvement loan to avoid the credit check from my Credit union.
If I charge even $1000 these bastards drop my score 1 point
See if you can get added as an AU on an old account or two from your parents that have no late payments or balance over 10%.
I had 12 inquiries I would like removed, 3 are from leasing companies for apartments I did not get, and 9 others are from 4 credit card companies that pulled my information twice each that I applied to months ago but just now showed up, I didn 't get either card, My credit went from a 740 to a 612 in a matter of a week. I got referred to JOHNNIEHACKSLLC. 🌏ORG by few trusted clients and I can say they're the best because all the 12 inquiries got deleted and my score was raised to the 800's ….
I had 12 inquiries I would like removed, 3 are from leasing companies for apartments I did not get, and 9 others are from 4 credit card companies that pulled my information twice each that I applied to months ago but just now showed up, I didn 't get either card, My credit went from a 740 to a 612 in a matter of a week. I got referred to JOHNNIEHACKSLLC. 🌏ORG by few trusted clients and I can say they're the best because all the 12 inquiries got deleted and my score was raised to the 800's ….
I was thinking of applying for a bankruptcy form because I have no other options, I'm on a fixed income and can't afford new things like auto loan, mortgage loan. My insurance premiums increased and interest rate has hinder me from getting some benefits and securing a job of my choice., I came across a comment of a young man on a blog giving tissue for a job well done to a credit fixing specialist who assisted him in clearing off debts and bad credit report, i took a risk by hiring him to Fix my credit score. I'm happy to tell you that this was fixed within 17 working days by these exceptional experiences i was impressed by his work and that's the reason I'm recommending him as well. You can visit JohnnieHacksLLC. 🌏Org if you need such services as well …
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I'm happily married with three kids, in 2019 after my husband lost his job it wasn’t easy for me alone to met up the entire family demand, my husband credit score was 480, we could not apply for a new loan, job, pay for bills or neither get a new car or home, looking for a solution to fix up my husband’s credit card we had this great experience with this wonderful credit repair specialist who helped in wiping away bad errors from the card not just that but also increasing the credit score to 810 within the space of 3 weeks, he is indeed a genius, you can contact for credit related help, JohnnieHacksLLC.🌏org '''' ❤❤❤
He did it FOR SCIENCE
When I wanted to set up my LLC business credit profile in Jan 2018, I was referred to Lexington Law for credit repair service but I can tell you I just stopped using them last year July, 1 year & 7 months, only 1 item removed and score only jumped 58pts, I saw many reviews about SolutionX and I gave their service a try since the recent customers claimed their credit repair service is very fast and effective, it was so surprising seeing my score got improved by 267pts in just 3 weeks using their service, they are the best. send your request and mail to f i x x h a c k x s p y @ g m a i l , c o m , try to use them and thank me later for this positive feed back that have helped a lot.
When I wanted to set up my LLC business credit profile in Jan 2018, I was referred to Lexington Law for credit repair service but I can tell you I just stopped using them last year July, 1 year & 7 months, only 1 item removed and score only jumped 58pts, I saw many reviews about SolutionX and I gave their service a try since the recent customers claimed their credit repair service is very fast and effective, it was so surprising seeing my score got improved by 267pts in just 3 weeks using their service, they are the best. send your request and mail to f i x x h a c k x s p y @ g m a i l , c o m , try to use them and thank me later for this positive feed back that have helped a lot.
Look forward to see your update
Omg that was Ms. Credit shufu!!
I have use the help of a Credit Repair Expert – SOLUTIONX . And I must say, they have displayed being #1 in class, in my opinion. I appreciate the time and countless effort they provided for your credit getting repaired and taking back on track.i am qualify to have my dream and I'm so grateful to SolutionX. Very professional and highly trained and skilled people who are great in credit restoring and rebuilding.
SEND YOUR MAIL TO
{ s o l u t i o n x catalyst @ g m a i l ● c o m } or leave your message on business WhatsApp num +1 7 0 8 9 8 6 1 4 2 7 and remember to thanks me
I have use the help of a Credit Repair Expert – SOLUTIONX . And I must say, they have displayed being #1 in class, in my opinion. I appreciate the time and countless effort they provided for your credit getting repaired and taking back on track.i am qualify to have my dream and I'm so grateful to SolutionX. Very professional and highly trained and skilled people who are great in credit restoring and rebuilding.
SEND YOUR MAIL TO
{ s o l u t i o n x catalyst @ g m a i l ● c o m } or leave your message on business WhatsApp num +1 7 0 8 9 8 6 1 4 2 7 and remember to thanks me
Have you reached the magic 800 yet? Update?
My credit score just dropped by 83. After trying to build it for years now is back to poor. I feel so heartbroken 😑😑😑
Now do it with 2 ! 🤪
I paid $5000 credit card balances and my score went down 28 points. 😭😭😭😭 that’s crazy
Thank you, o was worried my score dropped so low
I just got llc paperwork do u offer consulting
It finally caught up with me for applying for 5 cards in 6 months. I hope they come back up soon.
Some of my scores have dropped, But I pay all my cards off in full a few time a month. I don't wait for the billing cycle.
I never exceed 5%, if I do I pay in down immediately. Should I wait for the billing cycle to drop?
the reason given by both FICO & Experian was Age of revolving credit is too low
The funny part is Experian sent me a notification the same week saying, Raise your credit score by adding another card. lol
Discover = FICO® Score 8 based on TransUnion® data: 746 to 744 (Dropped 2 Points)
USAA = FICO® 3 based on Experian data (No Drop To Date Currently At 727) 6/30/2021
NFCU = FICO® Score 9 based on Equifax data (No Drop To Date Currently At 765) UPDATED 7/3/2021
AMEX = Report Based on VantageScore® 3.0. 712 to 699 Wow! (Dropped 13 Points) UPDATED 7/26/2021
What about charge cards? Opened an amex gold card in July and used it as it is supposed to be, paid it off in full every billing period… then amex reported it to the bureaus after two billing periods and my credit score dropped 50 points. Can't quite understand why it dropped by that many points. All other cards were under little to no utilization. Any insight?
This is very useful! Thank you for sharing