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DellMeSo

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I have a credit score of 812. Should I pay off my $488 credit card to help increase my credit

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How much it would increase your scores would be determined by that particular credit card's limit, if it only has 500 limit? Yes you will see "some" increase as you reduces its utilizations percentages by a wide margin, but if it has 5000 limit? Than no you wouldn't see any increase given your already high scores.

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At this point you're in the top 5%

Helpful to 3 out of 5 people

Paying your debts is always good, But to try and influence an 812 score, not much will change. You are already in the top 5% of the country as far as your score goes. There is not much that will move your score upward other than time as you have already proven you are dependable.  Any score above 800 makes you an excelent credit risk so 812 is treated the same as 850 already  as far as the  interest rates, etc., That you would be offered, It's all the same. 

You've done it!  the goal is always to get your scores above 800.  Congratulations! You're there!  

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Does paying interest on an account you can pay in full make any sense?  NO!! While your score may not jump to the 850,level, it should improve.  If you haven't already taken advantage of the credit education available here, please do take the time to read the articles.  This information will help for the rest of your life.  Sure helped me!!

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