my credit score now is below 600 and i want to pay off 5 credit cards at 1,000 each and want to know how many pionts that would bring up my credit score and how long it would take to show the difference on my credit report
2006-08-18 13:47:57 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
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2006-08-20 12:37:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If you are currently at 50-100% of your limit (Maxed out) it can make an instant difference, as much as 50+ points. It will be reflected as soon as your credit cards report the payment-- some cards do it the same week, some take up to 30 days.
And It doesnt hurt to pay huge chunks on your cards. its best to keep SOME balance on a few of them so you can continue to make payments.
2006-08-18 15:47:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Ok first you make a list of all 5 cards and write down what you u owe on them then write down the the limits are on each of them you want to atleast have 50 if not 70% open on each card so figure out which ones you should pay or which ones you should leave. They go more by the ratio (how close you are to your limit then how much you own on each card) :)
2006-08-18 14:04:25 · answer #3 · answered by jodi_lynn_124 2 · 0⤊ 0⤋
I believe your credit score will increase over a period of time-usually years. As long as you make more than the minimum payment on time each month, it will eventually increase, but I would expect it to take close to a year, if not more.
2006-08-18 14:18:30 · answer #4 · answered by Rexy 3 · 0⤊ 0⤋
about 30 points
2006-08-18 15:29:12 · answer #5 · answered by Hoa N 6 · 0⤊ 0⤋
believe it or not, if you pay off debt TOO fast, it doesn't' look good either. (I know this from experience.)
You should pay double or triple the monthly payments. It actually means more to make timely payments vs getting rid of the debt completely.
2006-08-18 14:01:17 · answer #6 · answered by tweetymay 6 · 0⤊ 0⤋
How many points can your credit score come up if you pay 5,000.00 towards a 15,000.00 debt?
T.R.Y
T.H.I.S.
S.I.T.E
W.H.E.R.E
Y.O.U
C.A.N
F.I.N.D
T.H.E
B.E.S.T
S.O.L.U.T.I.O.N
F.O.R
Y.O.U
2015-01-05 12:21:11 · answer #7 · answered by ? 1 · 0⤊ 0⤋
Try https://tr.im/1mlbW
2016-07-19 04:31:19 · answer #8 · answered by Anonymous · 0⤊ 0⤋