Under many circumstances it certainly makes sense. Do you now have a high balance reporting on one of your cards? If the card now has high utilization, you'll definitely get dinged a little even if your overall utilization is good.
On the other side of the equation, if you've now paid off all cards and none of them have even a small balance reporting, you'll also get dinged. It's best to have at least one or two cards reporting a small balance (1%-9%). Ultimately you're better off having everything completely paid, but your FICO score likes to see at least that you use credit responsibly, and in their terms, that means carrying a small balance, not having everything paid in full. Crazy game indeed....
Message Edited by ficonovice on 10-08-2008 10:49 AM
Rust never sleeps and neither does my fico score...
