Questions about utilization

[Anonymous]

Good Morning MyFicoers!

My utilization has currently reached close to 40% total for all of my cards. In actuality I have two cards that own most of that utilization. I get my student loans in 12 days. ALL of it is entirely meant to be used to pay down my credit cards. After having played around on MyFico's simulator I noticed something. According to MyFico if I pay down my credit cards tomorrow I will NOT get as may pooints if I were to pay it slowly over the next 24 months.

Is this true? The slower I pay down my debt, the more points there are to be had?

What is your reccomendation in regards to paying down my debt to 1 % utilization?

Thank you all in adavnce!

[Anonymous]

FICO does not remember payment history other than if you had lates.  That calculator for the 24 month scenario was probably factoring increased account age also which would be realized eventually for both scenarios.  Pay it down with the student loan.  But do not run up credit card debt again.  Sock drawer them until you learn to treat them like cash.  IMO it's only acceptable to carry a balance on a credit card if its an emergency or for something that helps you make money.