Established Member
Posts: 12
Registered: ‎01-20-2009
Advice on improving my score.
[ Edited ]

So I just got a signature loan through my credit union and it is paying off all my credit card debt.  The payoff checks and close out letters went to the creditors.  I have gone from 11 CC's to 2 now. The 2 I have are retail store cards that are private label cards they have zero balances and I wont be spending on them.  I now have just a Installment loan through the credit union.  Im saving like $400 a month since I did this.  I have student loans and a auto loan aside from the  new credit union loan.  My question is now that my revolving accounts will be closed and paid off, will my score go up? Or will I need to use the retail cards once in awhile like $50 here and there and pay it off monthly to show that I am managing revolving debt not just installment loans.   If someone can reply with a plan from where they would go from here.  Im never late on anything. My credit cards were maxed out but now they will be closed with zero balances.  Thanks for the help.