09-01-2007 06:23 PM
09-01-2007 06:39 PM
Pay them off, wait for the CAs to report the new scores and buy a used Totota Corolla
cardiacRN wrote:Hi Everyone,I'm getting ready to pay off all my credit card debt in the next few days and was wondering if anyone knows how long it will take for that to reflect on my credit scores? I used the FICO simulator and according to my existing revolving debt ($5400) and current FICO score (658) if I pay it all off it would change my score to 718-738.I want to buy a college graduation present for myself (a new mercedes benz) and would like to walk in the door in the best possible position.Anyone have any advice or info to share?With much gratitude,Lily

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.
>> About myFICO


