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how quickly can I improve my credit score if i pay all 35k of my credit card debt
Asked by
allan123
1 year ago
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Credit card companies report to the credit bureaus at the end of each billing cycle.
You don't have to pay all the way down to zero, just make sure the balance on each card is less than 1/3 of the credit limit. If you have many accounts (especially store credit cards) pay off and close a few of the newest or least useful cards.
Daphne88 1 year ago
That depends on how many lates - if any - you have, as well as whether you have collections/judgments. Certainly your score should improve once your cards are paid off; just remember to show utilization from time to time, as that shows greater responsibility (from a credit bureau perspective) than having zero balances on all your cards. If you have an account or two that is riddled with lates, you might want to ask those creditors if they will delete your trade lines in return for payment in full. IMO, of course. Good luck!
jorasparents 1 year ago