When I paid down $8000 of my credit card debt in Feb of this year, my scores shot up 30-50 points after those accounts updated. If you paid down all or off all of your balances on 3 out of 4 of your credit cards, you should see a bump in your score. But if that $10,400 balance on your other card is above 50% of your credit limit, your score will continue to be dragged down. The rule of thumb is to pay down cards that have the highest balances, so that you can have a better UTI. In other words if you have a $10,000 credit limit, and the balance is at $8,000 you are at 80% uti. Getting that card down to $5000 is better, $3000 is even way better since your uti would only be at 30%. The lower the balances on high credit limit cards, the better it is for you and the higher your score will be.
Message Edited by antredd67 on
04-14-2007 06:08 AM