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What will increase my credit score the most.--Paying down multiple cards a little or paying off one at a time?

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What will increase my credit score the most.--Paying down multiple cards a little or paying off one at a time?

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  1. paying multiple cards a little (and if you can afford to pay a lil xtra on each ) will increase your score . lets face it the credit companies like you to pay less longer so they make money, but also paying on time and every time, never late, will boost your score the most. It will help you to get your balance down quicker paying an additional amt with your minimum just make certain there is no prepayment penalty or early payoff penalty


  2. You can use credit repair agency to fix it - for example this one - http://freecreditreport.deep-ice.com They can clean lots of such bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.

  3. if you pay off only, one every single month, you'll increase your credit score but if you pay multiple cards you must be sure that you owe less than 30% of your credit limit in each, if not your credit score will be affected.

  4. Definitely one at a time, as long as you close the cards when they are paid off - and let some time go by.  You'll want to hold on to one or two of your best cards, and keep them paid down - but having a bunch of cards is a red flag, and a bunch of cards near their limit is a bad one too.

  5. It depends on what the existing balance is on each card. If you are over limit or near max on any card, by all means pay these down immediately.

    If you're current but just carrying mediocre balances, pay them down one at a time until you're at zero.

    The idea is to keep your usage less than 30% at any given time....ideal is 10%.

  6. Your credit score is calculated based on percentage of credit utilization.  All that matters is your overall total of outstanding balances out of the sum of your credit limits.  It should not make a difference if you pay them off one at a time or slowly apply payments to all of them.

    That being said, it would be wisest to pay off the one(s) with the highest interest rates first, thus saving the most money in interest as you pay them down.

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