Depending on your total credit "picture" you could see a significant rise in your score (50 -100 points) very quickly if you pay them down all at once. If you just plan to pay them down over time then you will see a gradual rise in your score. Remember that revolving credit utilization is but one of the dozens of criteria that FICO uses to determine your final credit score. Payment history, number of inquiries, and age of accounts are other significant criteria that can greatly help or hurt your score. Many people believe that improving one area will make a significant difference in their score but you really need to work on all of them at once. Good Luck!
2007-05-08 13:01:58
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answer #1
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answered by GUS 4
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It relies upon on the placement, yet ordinary it could have a constrained impression on your score while in comparison with the dimensions and high quality of your fee history. 2 of the relevent factors risk-free interior the score are the stability while in comparison with the credit shrink, and the whole quantity of credit available. the 1st is fascinated with whether you have maxed out or close to maxed out enjoying cards, you mustn't. the 2d watches the whole quantity of credit available, and it many times should not be better than you desire. do no longer examine in for a card at each and every shop you shop at only via fact it gets you 10% off your purchase. yet in addition do no longer panic and cancel enjoying cards or shrink limits, it facilitates to have those previous debts (longer history), and it ought to impact your suggestions-blowing stability to shrink (the 1st element stated). the final available credit has a constrained impression on your score, whether it somewhat is important bear in mind and a sturdy reason to no longer open promotional enjoying cards. i'm not sure if this immediately responded your question, yet my suggestion is to pay off the cardboard as you're. you will no longer pay pointless interest or costs, and it keeps you from stepping into credit hassle (it somewhat is staggering how elementary it could take place). you haven't any longer something significant to learn by preserving a stability on the cardboard. so a techniques as different the form to enhance your score, the main necessary element is staying contemporary and shop your debts open long term. via fact it somewhat is your first card, i anticipate you're youngerish, get extra of your debts on your call if a threat, utilities, cell telephone, automobile loan. i'm not sure what different credit you have, yet having only gotten your first card you're nicely on your way. proceed to exist appropriate of it for a pair of years and you will have an honest credit (say 720 - 750), then you may be seeking to characteristic a automobile loan, loan, and so on. and can have the prospect to get a marvelous score precise away.
2016-10-30 21:38:26
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answer #2
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answered by aldin 4
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When you get Credit card or other Credit you should olny owe 30% of what they lend you in order to have a good credit. IT Depends on how much they go up, sometimes paying them all off its not good. if you own a car or a house its okay to owe more then 30%.
Pay everything on time and never be late can help you alot.
P.S. if you cant lower you Debt then try to have you account Increased.
2007-05-08 12:59:24
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answer #3
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answered by unknown 1
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Since it sounds like you are talking about a current account and not a negative --
The company will update your report reflecting your payments at their usual time of the month.
When that happens, your score will immediately rise.
2007-05-08 13:00:14
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answer #4
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answered by echo 7
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depends
they wont raise that fast but it should start going up after a few months. You should see a significant difference in a couple years.
2007-05-08 12:45:10
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answer #5
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answered by rurouni33569 4
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pretty fast my did! good luck.
My score went up plus id dint have any late paaayments
2007-05-08 13:48:03
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answer #6
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answered by tennessee 7
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