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DRC56

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CC Debt High I can pay off now Should I pay off all CC at once or over time for best credit rating
My debt to credit ratio is high on my credit cards. I can pay them all off with tax return. So is it best to pay all of them off at once or to do it over several months for the best impact to my credit report

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You are making a wise decision to use your newfound money through your tax refund to lower your debt and thus the amount of interest you would be paying.  This would be like getting an additional 20-30% of your refund amount.   Paying off the credit cards as quickly as possible would have a close to immediate positive impact on your credit score.   You would see an immediate decrease in your utilization, thus an increase in your credit score.   As long as your accounts are good standing, you should see no negative impact for immediate pay off.   If your accounts have been shaky, you could find that some would want to decrease your line of credit.  If they were to decrease the line of credit, you would probably had seen them forthcoming before the pay off.

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