HI guys, just wondering if the minimum payment on a CC effects our credit? For instance I financed my wifes ring a few years ago on a Jared card. The min payment on the card was 225 a month and sitll is even with only 800 left on it. My utilization of all my revoliving credit is 47 percent right now. I have about 6600 in CC debt and 800 off will put me at 5800 or so. I know it will only bring my utilization down a few percent, but will getting rid of a 225 a month min payment that is reported help a lot?
Thanks!
Starting Score: EQ 619
jtc411 wrote:HI guys, just wondering if the minimum payment on a CC effects our credit? For instance I financed my wifes ring a few years ago on a Jared card. The min payment on the card was 225 a month and sitll is even with only 800 left on it. My utilization of all my revoliving credit is 47 percent right now. I have about 6600 in CC debt and 800 off will put me at 5800 or so. I know it will only bring my utilization down a few percent, but will getting rid of a 225 a month min payment that is reported help a lot?
Thanks!
They do not care about payments. They care about util%
Starting Score: TU:650 - EQ: 672
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