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Frequent Contributor
Posts: 406
Registered: ‎03-19-2013
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FICO 694

Is it best to pay off all of my cards completly to 0 balance or should they have some balance in them?

 

Also would I have the same fico score if i paid them off in 2 years or if I paid all dept in 2 months?

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Registered: ‎10-19-2012
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Re: FICO 694


JoshNurse wrote:

Is it best to pay off all of my cards completly to 0 balance or should they have some balance in them?

 

Also would I have the same fico score if i paid them off in 2 years or if I paid all dept in 2 months?


You should have exactly 1 card with a non-zero balance which is low.

 

If you're talking about installment loans, the longer the duration of the loan the better score you'll obtain.

 

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