Question on what to do with CC's

[Anonymous]

Here in 2 weeks ill have enough money to pay off all my credit cards. All 3 are maxed out. "Not from being unresponsable"

Anyways for my score is it better to pay them off or leave about 20% per card?

Im wanting to buy a new Harley in the summer and want a really good score. I have a 638 now. If those 3 cards are out of max zone how do you think it would impact my score?

[Anonymous]

Some here may disagree with my advise-

Pay one of them off 100% so it posts a zero balance on your CR.

Pay the other 2 Under 10%.

Maxed out credit cards can hurt as much as a collection on your report.
Have you tried the Fico Simulator?

Everyone is different- this will give you 10 to 100 points.

---

@Anonymous wrote:

Here in 2 weeks ill have enough money to pay off all my credit cards. All 3 are maxed out. "Not from being irresponsible"

Anyways for my score is it better to pay them off or leave about 20% per card?

I'm wanting to buy a new Harley in the summer and want a really good score. I have a 638 now. If those 3 cards are out of max zone how do you think it would impact my score?

---

[Anonymous]

blazinbird, heed Timothy's advice. It's sound, and a good strategy.

I took a different approach, when I woke up out of my 'credit coma' back in march, 2007 when my FICO scores were 521(TU). I pif'd 4 out of the 6(only because I had reached my budgeted amount to devote to paying on the cc's). The following month, I pif'd the other 2. I continued to pif the statements on all cc's for 3 months.

I found that during the normal course of events during any month, even if I pif there will be charges added to the card, so I'm ok on the utilization.

The tactic seemed to work, and work well, because by july, 2007, my TU FICO score had risen to 681. The strategy seemed to work.

I think Timothy and I are saying the same thing....just different wording

Good luck to you blazin. A new harley to scooter around on will be cool!