@XAVIERSMAMA wrote:
Your change in score will depend on what else you have on your report. Do you have any other open CC's or installments? A lot of times when you pay a lot of things off your score actually takes a hit because you have decreased the AAofA and you have altered your credit mix, both of which factor in your credit score. If you're trying to increase your score, you want to stagger how you pay off installment accounts so the effect on AAofA is more gradual.
Paid off or not...closed or open...none of those factors change your AAoA. Paying things off, also, does not change your credit mix.
If your installment accts are paid and in good standing...excellent.
If youir CC's are paid off in full, you should stagger how you use them, just so the ccc's do not close the acct or drop your limits. Some people set up automatic utility payments on their cards to keep them active without charging up a bunch of items. Use one for each bill every month, then PIF before the statement cuts.
Keep your overall cc util % posting each month, somewhere between 7 & 9%and your scores will be nice! That is, unless you have baddies reporting too, then those need to be GW'd away, or let them age until they drop.
