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Just paid $15k in CC debt

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Anonymous
Not applicable

Just paid $15k in CC debt

I never want to have that much debt hovering over me again. I feel so relieved, I had this pressure on my chest but its slowly starting to feel better. Most of the 15k had been rolling over and now that I've paid it off will my score increase slowly over time or will I see a big jump right away?


Message 1 of 20
19 REPLIES 19
09Lexie
Moderator Emerita

Re: Just paid $15k in CC debt

Message 2 of 20
Laugh
Frequent Contributor

Re: Just paid $15k in CC debt

Congrats. You'll see the score jump when your statement(s) cut.
Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
Message 3 of 20
BrokaToe
Established Contributor

Re: Just paid $15k in CC debt

Gosh, Congrats on being debt free!!!

 

I would suspect that once all the accounts report their new balances you will see a sizeable increase in score all at once. That's normally how utilization seems to effect score jumps that I've noticed.


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Message 4 of 20
LS2982
Mega Contributor

Re: Just paid $15k in CC debt


@Anonymous wrote:
I never want to have that much debt hovering over me again. I feel so relieved, I had this pressure on my chest but its slowly starting to feel better. Most of the 15k had been rolling over and now that I've paid it off will my score increase slowly over time or will I see a big jump right away?



BIG CONGRATS!!!!!

 

I cant wait until I can say the same thing!!!

 

HAPPY DANCE!

 




EQ FICO 548 3/3/16
Message 5 of 20
SnackTrader
Valued Contributor

Re: Just paid $15k in CC debt

Based on your current credit lines, your score should improve significantly at the next time your cards report. So over the next month you might see a nice little jump.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 6 of 20
FocusedAndDetermined
Senior Contributor

Re: Just paid $15k in CC debt

Wow - great job!  You should see a decent bump in scores, once your new balances report.

Message 7 of 20
pazuzu
Frequent Contributor

Re: Just paid $15k in CC debt

Wow! 

 

 

 


No apps/new accts since 2011

***FICO EXPERIAN 830***
***FICO EQUIFAX 828***
***FICO TRANSUNION 822***




Message 8 of 20
myjourney
Super Contributor

Re: Just paid $15k in CC debt

Congrats nice job

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 9 of 20
Anonymous
Not applicable

Re: Just paid $15k in CC debt

Wow!! Great job!!  Congratulations!!

 

 

+1 for the jump as soon as they report. Smiley Happy

Message 10 of 20
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