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Question By
Aprylpaul

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If pay off my credit card balance of $500 how much will my score go up?
My score it's currently at a 527. I need it to be at least a 650 for me to rent a place. I need to know how much my credit score will go up if I make a payment of $500 on Friday.

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If the $500 isn't putting you over 30% utilization there is a good chance your score won't increase at all.  Even if your utilization is at 100% I would be surprised if your score would go up 100 points.

Be aware that after you pay your CC it could still take up to a month for your credit score to reflect it.

Top Contributor
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My first question is what kind of score does the 650 need to be? Does the landlord use Vantage scores like you get here or FICO scores. There can be a big difference. Also understand that there are many and I mean many different kinds of credit scores, so you need to know what kind of score you need to get to 650. As far as how much your credit will increase by making your payment it depends on the "utilization rate" on the card. All in all, I don't think you would ever come close to your goal by making the payment. It takes time to build good credit, so do some reading and try to be patient. In the meantime search for landlords that don't require credit checks.

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