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Question By
skip11

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1 Person Helped
I just paid off my credit cards will I see my credit score go up at all?
I never been late on anything, and now I have no credit card depth.

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Top Contributor
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Don't get your hopes up

Helpful to 4 out of 4 people

If you were carrying high balances and paid them off (but did NOT close the card accounts), your score might improve. If you were carrying only modest balances, your score may actually drop a little. If you also closed the card accounts, you're in for a nasty score shock. Thing is, the scoring systems are designed to measure our potential profitability to lenders. In the real world, having zero debt is good. In the credit scoring world, having zero debt says they won't make as much money off us. Try keeping a very tiny balance on your cards (1% to 20% overall utilizataion). They like that.

Reply by
skip11

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Helpful to 1 out of 1 people

thank you clairissa I will follow your advise...

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