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Posted in Auto Loans
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Bono8

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Which card should I pay off to raise my score the highest?
Hi I am needing to purchase a car asap. I would like my credit as high as possible. I have 3 credit cards that I have balances on.
#1 balance=4500 limit=5,000
#2 balance =2400 limit=3500
#3 balance=1200 limit=2600
I currently have 2,000 to put towards my debt. how should I apply it? Should I pay all of #3 and then part of #2? Or should I pay down #1? Which will raise my score the fastest? Thanks

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You should try to reduce the utilization on every card as close as you can to thirty percent. As it stands right now, card three has the best utilization rate of the three, so you will want to focus on getting the first two cards paid down. It would be wise of you to do some reading on "Credit Utilization" to better understand how it affects your credit.

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