Rebuilding my credit question...

[NY_Beauty]

In hopes of rebuilding my credit as quickly as possible I am using the tools available to me.  That being said, I used the score simulator and it said if I paid off/down a debt by the full amount that my score will increase.  Can I trust the simulator?  What experiences have you had with it?

[Anonymous]

paid my open sky cc from $282/$300 to $0 and scored jumped 30+ points

[phillyguy12]

the simulator has been pretty good for me. the one thing i don't like about it is you can't mix senarios ie apply and paydown. If you pay down your balance your score should go up assuming, you didn't go on an app or spending spree. one of the bigger chunks of your score is your utilization- total used in relationship to total limit. ideally you should try to keep your utilization in the 7-10% range the lower the better for your score. you should keep in mind that most cc companies report last statement balance not current balance, so if you run near your limit and pay in full every month when you get the bill, your utilization will be high, try to pay some or all of the balance before the statement cuts