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JustAsimpleQuestion

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What will happen when I pay off my credit cards?
I have three credit cards. Two have a max limit of $1,000(18% APR) and are at about $950 each. Another has a limit of $1,150(10% APR) at $780. I've never been late on payments. They've just been sitting at above 60% for a few months. My credit score is currently 623. Within these next two months I will be paying off the 3 credit cards. How will that effect my credit score once I pay them all off?

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It will definitely improve the score. Score depends on the number of factors. High utilization (>30%) is one of the negative ones.

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You should see a nice score boost from paying them off. Also be sure to keep an eye on your FICO scores from time to time. They are not free, but worth purchasing as most lenders use a version of FICO scores.

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