08-14-2007 02:05 PM
08-14-2007 02:55 PM
Tomstang wrote:Hello all, I hope someone knowledgable can help me out here. I will be refinancing in May 08. I have done ALOT to help my current score. I currently have an interest only loan that has heled me pay off some debt. My remaining cards are a Sears card at 3500.00 at 29%, maxed out, a Best Buy card at 27% at 1600.00, and a Visa at 12% at 3000.00, maxed out.I have 1500.00 to spend on debt now. I want to do the best thing to help my score before May.Should I payoff the card for 1600.00 and close it out, or should I split the 1500.00 and pay 750.00 to the Sears and Visa card , distancing the amount owed from the max?What will help my score more? Thanx alot.
08-14-2007 03:43 PM
08-14-2007 04:33 PM
08-14-2007 07:03 PM
08-14-2007 07:11 PM
08-14-2007 07:27 PM
08-14-2007 07:31 PM
DebtSucks wrote:Before you do anything, go to daveramsey.com. Pay your cards off and don't open any accounts. What have we come to in this country thinking you have to take money out on credit. Who cares what your score is when the only thing you owe on is your mortgage and EVERYTHING else is paid for. Now thats a nice feeling. Start saving for what you buy, set up an emergency fund. You know, interest works both ways. Why not have the bank pay you interest instead of you paying interest. Its sad, but this website sets people up for failure by continuing to wade through a sea of debt. Change your behavior and get free from debt. Go to the daveramsey.com and sign up for "Financial Peace University". God bless.
08-14-2007 07:40 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.