pay off full balance of credit cards? - Posted by Dave

import · April 10, 2002, 10:29am

Posted by Darrel on April 11, 2002 at 22:35:36:

This may sound silly, but how do you go about figuring what your current credit score is?

import · April 10, 2002, 10:29am

Posted by Dave on April 10, 2002 at 10:29:35:

I have a question on what would be best for my credit rating (fico score). I have a few credit cards that have decent size balances, from recent rehab project, I can pay them off in full now. Would it be better to leave a small bal. on them? small bal. on just one? or pay them all off and use one every month but pay off bal. in full each month? Which method do you think would benifit my credit rating? right now fico is 69O.

Thanks a lot
Dave

import · April 10, 2002, 2:40pm

Re: pay off full balance of credit cards? - Posted by Bruce Lawson

Posted by Bruce Lawson on April 10, 2002 at 14:40:42:

Hi Dave,

Your score is good at 690 you are conforming with that score. If you can pay off the balances without hurting yourself then you should remove that debt from your profile, yes you should make small purchases and pay the balance prior to the due date.

By removing the debt your D/I will decrease and raise your credit score, on the other hand your credit file will show you have access to those limits and that may keep you from gaining as many points as you would without them.

Sincerely,

Bruce Lawson

import · April 10, 2002, 12:32pm

Re: pay off full balance of credit cards? - Posted by Graywolf

Posted by Graywolf on April 10, 2002 at 12:32:40:

690 is a great score you can do anything you want with this score. But if you were to pay down on your cards not pay them off yes you would increase your score.

Graywolf

import · April 10, 2002, 9:02pm

Re: pay off full balance of credit cards? - Posted by gib

Posted by gib on April 10, 2002 at 21:02:37:

You can do anything you want with a 690? I’m having a time trying to finance a house that needs some work. I have a 698. Probably wouldn’t be a problem if any of the mortgage brokers here had a clue.

Gib