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Question By
Bkbeth

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Paying off credit cards
When will it show on my credit report

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Buying a house

I am buying a house within the next month and need to lower my debt to income level, therefore I am paying off credit cards. When will this shoe up on my credit report?

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It should be updated a few days after your next statement date. Of course paying down your balances will look good, but the available credit will most likely still factor into your debt to income depending on the lender.

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But DO NOT close any of the cards unless your lender requests it. Closing cards would drop your scores.

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susaninwny

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Enter Your Reply I just received debt loan to pay off credit cards, was told keep them open with 20/30 % low bal, never close them as Banks want to see your credit worthiness w/excellent payment History.I am looking to purchase a new home in a year, was told my credit score will jump when I get personal loan consolidate all credit cards into one payment, make extra payments on the bal of loan when possible, so your 2 year loan will be paid off sooner. Great advice CK. !!! Thank You appreciate this.

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