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Ilovekarma12

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How can I pay off my only long standing credit card without badly affecting my credit score?
How can I lower my credit card balance without it negatively affecting my score? It's my only credit card with a 10 year history, and Ive always used 80% or more, havent paid it off in years, but i use it and make monthly payments but after interest etc its always had utilization of 80% ish. and if I pay it off in full, it shows my score is NEGATIVELY affected, how should I pay it off so it positively affects my score? Thanks!

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Get it paid off!! You are actually hurting yourself by the 80% usage.  What I (and many others) have done is have a regularly recurring bill such as TV or insurance charged to the credit card and pay that in full after the bill comes in.  That way you are showing regular usage and will build an excellent payment history and  be paying interest like you are now. Your score will improve, as you'll find out.

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FYI--paid off does not mean closiong the card.  With a ten year history, closing this card would be crazy!!

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