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Current Large Credit Card Debt, how much will paying it off raise credit score?
I had a good job with high pay and a little debt. My credit score at the time was 787. Auto wreck, lost job, overusing credit cards until things improved. My income is now half what it was, and about $50,000 in credit card debt. Karma shows my current score at 679. If I pay it all off at once should it restore my credit to what it was? I don't make as much as I use to make, but I have never missed a payment and my credit history is longer now than it was when I had 787. If I used the simulator on this site right, it only shows the credit score moving slightly. I find that hard to believe. My home loan is about paid off as is my car loan and I've never missed a payment on anything. My credit card utilization is about maxed out, but I expect to receive a large amount of money end of this year.

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