Does just simply paying off debt raise credit score?

Tips and Deals Forums Improving Your Credit Score Does just simply paying off debt raise credit score?

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      Anonymous
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      Ive got 3 credit cards that have sizable balances on them. I make like 2 to 3x the minimum payments for each just to get ahead. I have been declined additional cards and am pretty sure I will not be approved for a car/house. Lets say I paid them all off and maybe go as far as to cancel 1 or 2 cards. What will this do to my credit? If I have no debt will I be approved for cards or a car/house? Or will the history alone keep me from getting approved. I have had some late payments in the past but those days are far behind. Any advice?

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