Frequent Contributor
Posts: 375
Registered: ‎01-20-2012

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



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!

Current: EQ 673 September2013 / TU 696 September2013 (Walmart)
Start: EQ 584 Feb2012 / TU 629 July2012

Wallet: BofA Cash Rewards Visa Sig $5000 / Lowe's $6000 / JCP $3900 / eBay MC $3200 / Barclaycard Rewards $2000 / Walmart $3300 / CapOne NHRC $2000 / CapOne Platinum #1 $2000 / Amazon $1700 / Discover It $1000 / CapOne Platinum #2 (former Orchard) $750 / Amex Zync $500 Autopay
Established Contributor
Posts: 833
Registered: ‎03-04-2013

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 722 | TU 723 | EX 718
SFFCU Visa $11.3k + LOC $5k, USAA Amex $6k, USAA MC $7k, Amex BCE $13.5k, Cap1 $4k, Freedom $5k, Slate $3.2k, Barclays SM $5k.

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