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PIF or gradually pay off to maximize increase in score?

Frequent Contributor

Re: PIF or gradually pay off to maximize increase in score?

Congratulations!

 

You'll save a bunch in interest, no doubt. The big thing is making sure you don't USE all of that newly-available credit to just rack up the bills again. Good luck and congratulations again!

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Established Contributor

Re: PIF or gradually pay off to maximize increase in score?


TravellingNomad wrote:

well i did it...all 7-8 cc i have that had been floating around 60%-85% util has been paid off!...including the my personal loan balance of 5.5k from those blood suckers One Main. so in the past 2 weeks ive paid off a total of about $12k of my debts. the only thing left is my personal loan from Alliant CU which is just under 4k. so im practically at a clean slate when it comes to my cc's. ive decided that i will only use my alliant visa and discover miles cards as my 2 main monthly cards to pay bills with and pif each month. the other ones will be put away and used for emergencies. at this point...whether my fico scores get a big jump or not...its not as important as being able to breathe a lot easier because im almost debt free! woohoo!!!!


Congrats!!  What a great feeling!  I'm still working on getting miine down, about 10% each month...  I hate being patient!  

FICO: EQ 768 | TU 813 | EX 781

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