2007-02-21 17:36:05 · 3 answers · asked by rosesbloom7 2 in Business & Finance ➔ Renting & Real Estate
Both of the previous answers are correct. Don't close out the cards unless you have a credit problem. Ultimately, a card that shows use, but is only taken up to or paid down to about 30% of the max does a lot for your credit score, unless you have late payments on it. Once you get above 50% of your credit limit, it starts to work against you. Often if you pay off a credit card, but keep it open, it raises your score immediately by around 10 points.
2007-02-21 18:30:13 · answer #1 · answered by Dawn J 4 · 0⤊ 0⤋
Every time you receive a statement from the bank you have your monthly interest included, if you pay more than the min. amount all the extra money goes toward the principal and thereby reduces the amount you owe, the more you pay the less you owe. Amazing isn't it?
2007-02-22 01:51:21 · answer #2 · answered by Toxic 2 · 0⤊ 0⤋
Just pay off the balance. Quick and simple.
2007-02-22 01:43:25 · answer #3 · answered by ⊂( ﾟ ヮﾟ)⊃ 4 · 0⤊ 0⤋