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overyourlimit

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so my account balance says Total Debt: $3,389.. if im able to pay that off will my credit increase?
or if not any suggestions?? im needing a dental loan and need to get a decent score for the loan

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of course! if you pay off your debts, you lower your utilization score which is great. pay on time every month, so it shows consistent payments. but you can't just pay the minimum. creditors like to see BIG payments being made. shows that you can handle any amount of credit line. if you pay the minimum it just looks like youre struggling to make ends meet.

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Utilization means usage- how much of your available credit you're using.  As I've found out, a good "utilization" range is 1-20%, with 5% or so being ideal.  Meaning use a little of your available credit, not too much, and not keeping the balances paid off all the time either (which seems like the most responsible thing).  If your debt is a car loan, student loan, or mortgage, just pay your payments on time.  If your debt is a credit card or cards, get that balance down as quick as possible to 1%-20% of your credit limit, on EACH card if more than one.  As a point of reference, if your credit limit is $1000, a utilization of 1%-20% would be a balance of $10-$200.  Carrying over a balance each month costs you finance charges, yes, but it builds credit as long as you're careful.  You have to BUY your credit score basically, in the form of finance charges paid to your creditors.

Reply by
overyourlimit

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so say i spend $50 i should pay like $25 for 2 months instead of paying it all in 1 month?

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