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Question By
riverrat72

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Credit Score Increase-
Currently, my credit score is 700 (was 732 in September 2014), however I lost my job. I opened two new credits cards (yes I realize this was not a bright move) which brought my credit score down. I plan on paying off $5000 in credit card debt by March. I utilized the simulator to see where my credit score would be...and it stated 738. This makes no sense to me. I would be credit cardless (I will have student loan and car payment remaining). Does anyone have an explanation as to the reasoning of the low increase?
Thank you!

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Top Contributor
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That doesn't seem to low.

Although I find the simulators to be a little unreliable. 

Paying off 5k in debt won't have that big of an effect overall. 

Its the length of your history and available credit that will have the biggest impact on your scores. 

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