Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
Re: Which option should I choose to gain the most points??
[ Edited ]

In my opinion I vote on option 1....


Fico scores take into consideration total util on each individual card as well as the total util on all cards.


If you pay off 6 cards in full leaving a 0 balance and only having 1 card with a balance will give you a better score in my opinion. The goal would be to also lower that last card to ultimately be under 9% util.


The charge off is not helping and I would pay this off as soon as you could also.


Possibly instead of paying off the $458 dollar Cap One card pay off the charge off 1st. Use $411 to pay off charge off and put the left over $47 on top of your minimum payment to Cap One.


Also make sure you pay all minimum payments on any card you are not paying off. If you miss the minimum payment due this will cause you another set back.


Edited to fix bad typing with numbers... 

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