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So hypothetically

Member

So hypothetically

If I pay down the balances on our CCs and only keep a few dollars on each one for a few months, how much do you think this would help my score (currently 588; it was 618 but mysterious 30 pt drop this month which was helpfully addressed in another message). 
 
Are we talking significant or one or two points?
Message 1 of 4
3 REPLIES
Senior Contributor

Re: So hypothetically

Would need to know what you current UTL reported on your credit report is?

Total revolving debt?
How many cards with debt?
Total credit limits combined?
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 2 of 4
Member

Re: So hypothetically

I've never figured it out.  I have two cards, both $500 that are more than 50%. 
Message 3 of 4
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Senior Contributor

Re: So hypothetically

A pay off over 50% will give you a drastic score improvement.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 4 of 4