So long story short. Bank of America cut my credit lines by about $12,000 between two cards. So my credit score tanked to 615.

If I get a HELOC and not use it, will that line of credit show up on my credit report and hopefully bring my credit usuage down?

I have 50% equity in my house. We put down 95k in July to buy a 190k house.

There's something else missing here. What was your score before the CLD? And what score are you using (FICO, FAKO, etc.)?

polo2883 said:If I get a HELOC and not use it, will that line of credit show up on my credit report and hopefully bring my credit usuage down?I dont think a HELOC is considered to be a Revolving account; I think its a different bucket.

"The FICO score is designed to treat a HELOC rather like a revolving line of credit if the loan's limit is below a preset amount, and like an installment loan if the loan's limit is above that amount."

So, rather like, sort of, maybe, it depends.

I have a 250k HELOC.

Equifax: under Mortgage Accounts. Type: "Line of Credit"

Experian: under Revolving Accounts. No indication that it is secured by real estate.

Transunion: "Line of Credit Account".

A 30k HELOC may be treated as revolving by all 3. I read once that the cut-off line is 50k, not 30k. If they are really smart, they could make this dependent on your primary residence's zip code.