PM412

1 Contributions 1 People Helped

Member Since: September 2013

Most Helpful Contribution

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Feb 22, 2017
Helpful to 1 out of 1 people

Thanks for the advice. I thought if you make a payment on your statement then it will help your credit score. I made a big purchase on my credit card and had no idea if i didnt pay back more than half of it then my credit score would drop. I was always told that lenders want to see you pay the balabce off over time and not just all at once. You comment was a big help. If i pay the remaining balance off how long will it take for my credit score to go back up?

Activity (1 Total Contributions)

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Feb 22, 2017
Helpful to 1 out of 1 people

Thanks for the advice. I thought if you make a payment on your statement then it will help your credit score. I made a big purchase on my credit card and had no idea if i didnt pay back more than half of it then my credit score would drop. I was always told that lenders want to see you pay the balabce off over time and not just all at once. You comment was a big help. If i pay the remaining balance off how long will it take for my credit score to go back up?