First I want to say-do not judge me or what you will read if that i what you are here for I would rather not have your imput. I’m not going to defend myself or explain myself, I simply want answers.
So, I just received my credit report and score. I reviewed it and compared all the reports-they were all pretty similar. My question is-If I have 2 credit cards and I’m using 95% of my available credit on them, and I pay them down to between 45-75% how much could my credit score increase? One credit card has a very high limit and the other is not so high. The one with the high limit, I know I can’t pay it down to 45% yet (thats the one that will be closer to 75% by the end of the summer.) I’m not looking to take out loans or anything that can negatively impact my credit score. I have taken on a second job and am budgeting much better. The only thing that is negatively affecting my score is the fact that I’m carrying such high balances-so I would imagine paying them down will help?
I know that the credit bureaus want you to carry less than 30%-eventually I’ll get there with my cards but paying them off is not possible over night right now. I’m hoping to get 20-50% paid off by fall. I want to buy a house and we have decided to do it next spring, which is the reason I’m trying to increase my credit NOW.
Thanks for all the help!