Since you said you arent planning on apping for anything go ahead and pay them slowly but if you have the cash around pay them off before you buy uneccessary things; that's just responsible spending 101
I don't plan on applying for anything in the next few months or year for that matter. So should I just gradually pay them down? Or just chuck the cash at it to get them down right away? Will someone be able to tell that at one point I had such high balances or no?
If you are not going to apply for anything, your score does not matter. Cash availability is more important, pay the minimum.
bradpitt wrote:Your question is about utilization history.Utilization history doesn't at all come into effect under computer approval since your fico is only a snapshot of your present situation.But utilization history could come into effect under manual review. No one knows for sure how much if any utilization history effects a decision.I would think it would be only relevant if you were caring balances over 70% for a long time or were thinking of a mortgage in the next year or two. Otherwise I doubt they would even look at it even if you were borderline. But in my opinion its probably best not to even carry balances above 50% so you don't spook any of your lenders and make sure you get it paid down to all but one card with balances around 1-2% a couple months before you apply for anymore credit.
There is no utilization history in your credit report so it can not be used in a manual review.