Best method to BOOST scores- pay down 1 card to 0 or pay down two cards equally?

[joshall]

We are in desparation to increase credit scores before two credit card statement closing dates.

We can pay down two credit cards.

Right now, we owe $6,000 on both cards. Credit lines for both cards are $6,800. We have $5k to pay for now.

Is it better to pay $5k on one card, leave 1k as balance, and leave 6k balance on the other one?  

Or it is better to pay 2.5k on both cards, and leave the equal balance?

APR for both cards are similar at 12% more or less.

Which method will boost the credit scores more?

Thanks.

[SouthJamaica]

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@joshall wrote:

We are in desparation to increase credit scores before two credit card statement closing dates.

We can pay down two credit cards.

Right now, we owe $6,000 on both cards. Credit lines for both cards are $6,800. We have $5k to pay for now.

Is it better to pay $5k on one card, leave 1k as balance, and leave 6k balance on the other one?  

Or it is better to pay 2.5k on both cards, and leave the equal balance?

APR for both cards are similar at 12% more or less.

Which method will boost the credit scores more?

Thanks.

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I'm assuming you mean each credit line is 6800 and 6000 is owed on each.

If that's the case, with 5k your best bet is to pay 3500 on one card, taking that one down to below 50%, and  paying 1500 on the other.

[joshall]

Ah, thank you!  I never have thought of this method..

[SouthJamaica]

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@joshall wrote:

Ah, thank you!  I never have thought of this method..

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You're welcome.

And btw, pay the 3500 on the one that's going to report soonest, so you get the effect quicker.