I need an opinion on how my score may change based on the following:
I am currently renting (last two years) and own my vehicles with no debt. My only debt right now are three credit cards that I have had for roughly 7-8 years (about $38K total debt). All three are near their limit and I am making monthly payments on them. in 2009 I got about 4 months behind on each of them. I was offered a settlement but declined. I should be able to pay them off in full next month (whew).
I have quite an extensive credit history and it is nearly all good. Overall there are maybe two or three 30 day late payments (excluding the credit cards above) back in 2006. Everything else shows paid on time.
I checked my credit score at myFICO and it was 678. I checked it at Equifax and it was 686. Will there be much of a change in my credit score when I pay off these credit cards next month (knock on wood)?
What else can I do to help improve my score?
I am also considering buying and financing a vehicle. What change will this have on my score?
