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bigcuban

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What should I do to raise my score for a new car.
Okay, I need some help. I'm thinking of getting a newer car somewhere between 2013 and 2015. I have a question though with it in reference to my credit. My current credit is at 696 at the moment according to CK, Discover also tells me my FICO which I had a 730, I have no clue what my Experian is.

I currently have 3 credit cards. One with Citi which I only owe 405.00 out of $1,000. I have a Discover card where I owe 170.00 out of 2,000, and then I have a Chase which I have 0 APR until October which I owe the most, 1,780 out of 2,000. I hear that if I can somehow raise my credit score to above 730 or so I should be able to probably receive an APR of under 3% or so. So here is my question I have 440.00 that I can use right now to pay off some debt I'm hoping if I do that it will raise my credit score quite a bit here is my question do I pay off Citi completely? If I pay it all off will my score soar quite a bit? Or should I worry about cc utilization and instead put those 440.00 toward my Chase card and lower my utilization on one card? What will help my credit more?

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credit utilization

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The credit scoring model looks at the balances on all cards by percentage.  So, paying all cards down to the lowest possible percentage of usage is more important than paying a single card down (unless that single card is max out and paying it down will bring it in line with the remainder of your balances by %).

Hope that makes sense.  let me know if you need additional info.

Thanks,

Joe

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