Is it better to pay one credit card off to higher a credit score or split amount up between cards?
I am looking to buy a house and my credits is where it should be but my husbands is not. We payed his credit cards down a little and are waiting for his credit score to change. I am not sure how long it takes but also I am not sure if it is better to pay one of the few cards off or split them between the few cards. I just need it to go up 25 points.
Tags: Amount, Better, Between, Card, Cards, Credit, higher, Score, Split
It may take up to 60 days to see the change, depending on when the creditors update.
You want to make sure that overall and each account are not carrying balances of more than 30% of the limit. All individual accounts being the same, pay off the highest interest rate card first — you save interest that way.
You might even consider paying off all those credit card balances. Beside your credit scores, your debt to income ratio is a big factor.
Split the cards and try to get them both down to 30% of the credit line. Should work as that one high balance will not help your score
Do not close the card cause it lower you available credit line. You also can use this service to pre-estimate future scores for different scenarios of credit card payments. – freecreditreport.hotusa.org