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angelwiththescabbedwings

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Should I pay off closed credit card or pay towards an open one?
I have money to pay towards debt. My credit utilization overall is a little over 40%. I have a closed credit card I have been chipping away at for many years. If I pay off this old closed credit card would it help my overall score or should I pay that amount towards the balance on one of my active credit cards with a bigger balance? Which should have the greatest impact on my credit score?

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The closed account means you can no longer make charges on it, but the balance is due, as should be expected.  You need to get all accounts paid as soon as possible and strive to pay the balances in full when the bills come in.  If there are any late payments on any account, those will have a negative effect on your credit score, but a history of regular payments will help.  Try very hard to get that utilization down to 20% or less and that will really improve your score.

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