credit card question

[red456]

I owe $140 on a cc. Should I pay off balance or leave a small balance for point increase?

[gijoe4500]

Need more details than that.  Is it your only credit card?  What is credit limit?  etc.

Also, you don't have to carry a balance for the score increase, the small balance just needs to be posted on your statement.  Can pay it in full once your statement posts.

[red456]

yes, that is my only credit card. I owed the full limit of $500 and paid it down to below the 30% mark and got a hugh 43 point increase on that. But, I have read on different threads that i should leave a 9% balance and then I read where if I could pay it off then do so. Just trying to reach that magical 640 for a house loan.  Any suggestions?

[gijoe4500]

Pay it down to 1-9%, and let that balance hit your statement.  Once it has posted to your statement, pay it off, so you don't get any interest charges.

It may not be a huge jump in credit score from the 30% util you have now, but every little bit counts.  Do you have any other derog. info on your credit report that you could work on removing?

[MarineVietVet]

Locking this thread. The same question is asked here: http://ficoforums.myfico.com/t5/General-Credit-Topics/MY-SCORES-CAME-UP/m-p/1063088#M155488

Please don't ask the same question in more than one place. It just causes great confusion.