- This topic has 0 replies, 1 voice, and was last updated 9 years, 2 months ago by Anonymous.
- August 17, 2011 at 6:41 am #364053AnonymousInactive
I have way to many cards with a balance. I have three cards that I can pay down this month to 30% of the balance because the amount isn’t too large. I have 8 cards above 50% but paying the smallest down to 50% of the available credit will take longer.
If I want to improve my FICO score as soon as possible, can paying down the 3 balances to 30% of the available credit now make a difference? Or do I have to wait and pay down all my cards to 50% of the balance before I can see a rise in my FICO score?
Thanks for that first answer, but I probably should have mentioned that I’m trying to get about 30 additional points so that I can get from “fair” to “good” credit score. I wish there was something like the fundingsuite.com software available for consumers. The screenshots on their video show an example credit report that give a simulation that if the person paid down balances to 50% on a specific card there would be a 3 or 4 pt increase in their score. I am also writing 3 letters asking for goodwill removal of one-time 30 day late payments four years ago. I may be forced to relocate in a few months and my score is currently 644. If I can get it up I’ll get much better mortgage terms! Then I’ll get to work on reducing all cc debt and keeping the score up….
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