I am desparate to get to a 700 so that I can refinance my home. In the last few months, my score has gone up by 30 points or so by strategically paying down certain debts. I'm at 696 right now. I have outstanding student loans of about $1,600. If I paid them off, would that improve the score by a few points? Or does it make more sense to pay down more of one of my credit cards? Thanks in advance!
Installment utilization is a tiny part of FICO scoring, unlike CC and revolving util. If you are still carrying balances on CCs, I'd consider paying that. Outside of FICO scoring, DTI should also be a consideration if that were ever an issue with the lender.