forgot if I asked this before

[serenity72]

does it matter how you pay what you owe? Would making payments on something compared to paying off something make your credit score higher? Say I pay XYZ company the full amount I owe them or agreed upon in a settlement compared to making XYZ company payments, would it really make a difference scorewise on my credit report or just time wise. Which would like better for me(someone going for a mortgage in a year?)TY

[Tuscani]

It's all about util.

[serenity72]

utilization only refers to CCs though right? I have no CCS right now. I am working on getting some by August. I guess what im asking if its for any other kind of bill utility, medical, etc...does it matter to your score if you PIF or pay in payments? Ty

[Tuscani]

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serenity72 wrote:
utilization only refers to CCs though right? I have no CCS right now. I am working on getting some by August. I guess what im asking if its for any other kind of bill utility, medical, etc...does it matter to your score if you PIF or pay in payments? Ty

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Nope... But credit cards (revolving credit) is much more important.

[serenity72]

alright so basically paying a little bit on each account would help more than anything correct?

[Tuscani]

Depends.. post up your balances and credit limits.

[fused]

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serenity72 wrote:
alright so basically paying a little bit on each account would help more than anything correct?

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Keeping your CC util between 1-9% is ideal. For example credit card A: CL 1,000, balance should be under $90 when it reports to the CRAs. CC util over 50% will really hurt you. With installment debt, on time payments matter, the balance hardly. NEVER pay late and you are fine.