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I have 9 credit cards and I just recently got my overall UL from ~62% to ~31% including paying one down to 0. However, I have another card (Bass Pro Shops) that only has a balance of $80 (CL is $1k, so currently 8% UL). Will it make much of a difference right now, this month if I pay that card off down to a zero balance? It will have no significance on either my aggregate UL or my DTI, so I am curious if there is much significance between 1 and 2 cards with a 0 balance.
Aggregate UL: ~32%
Bass Pro
CL: 1000, Balance: 80, UL: 8%
Best Buy
CL: 2000, Balane: 940, UL: 47%
Credit One
CL: 2000, Balance: 940, UL: 47%
Genesis (line of credit for a mattress that apppears as a CC)
CL 2000, Balance: 220, UL: 11%
Ollo
CL: 600, Balance: 280, UL: 47%
Overstock
CL: 800, Balance: 220, UL: 28%
Cap One Platinum:
CL: 500, Balance: 0, UL: 0%
Cap One Quicksilver
CL: 750, Balance 350, UL: 47%
Target:
CL: 300, Balance 115, UL: 39%
I recently had a card that I paid to $0, but the interest tacked on, so my balance was $53. I got the credit card company to force a new report after it was $0. It's only reported to one bureau so far, but my score went up 3 points. I'll update on the other two once they report, but I think the answer is yes. It does matter or it did for me. Lots of things in play when dealing with credit, but the card reported and then the updated reported 2 days later before anything else happened, and my score increased.
Well, i just went ahead and paid it off, so we'll see what happens. Thanks.
I suppose I did not factor in interest. Luckily, my BPS card is only 9.99% and I never had more than ~$150 balance, so it should be a dollar or less if anything. My Cap One Platinum will probably be a little bit, though.