Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
Andrewfry1989

0 Contributions
0 People Helped
Should i pay down the high balanced credit card first or the lowest?
Both of my credit cards are maxed but my $1400 card I had for 10 years now I make monthly payments on time but like I said it's maxed out. My other credit card is $600 newer also maxed out. I plan on paying both down but if I paid like $600 off of my $1400 do you think it'll raise my score 585 to 620?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1112 Contributions
684 People Helped

From purely scoring's prospective, when your cards are maxed out? you need to bring balances on both (all) cards down equally by percentages not the dollar amount, as credit score models looks at your highest utilizations from both individually and aggravated percentages into its calculations. When you pay 600 off from your 1,4K card? The credit scores would still reflect your utilizations as maxed, because one of your card still is in fact maxed. The age of the cards in this particular case are irrelevant.

Top Contributor
8153 Contributions
4032 People Helped

Helpful to 0 out of 2 people

You need to take advantage of the very valuable credit education on this site so you can learn how credit works and how to improve your score. So, read the articles on this site, make needed changes and use the financial tools, then you will have a much happier financial life.  I did so and I am reaping the benefits of the knowledge gained here.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.