Post # 1
Which will increase my credit score faster:
Paying off debt all at once?
Paying it off 1/3 at a time?
I have the $ to pay off all of my debt right now. I have 2 credit cards that totals almost $2400 in debt. I have good credit already, 749, but I want better.
Post # 3
I’m not 100% sure to be honest, but I was told that making consecutive payments helps more. Also, if your balance isn’t close to your credit limit.
Post # 4
@jesssamesssa: Your credit score is high enough that paying off your debit may have very limited impact. Talk to your bank. They will be able to give you advice.
Post # 5
Pay it off all at once. I had $8000 in CC debt, I paid it all off and my credit rating raised about 95 points within 2 months and then 105 points witin 3 months! I haven’t used my CC since and it has stayed stable for over a year now. Fiance did the same thing
Post # 6
learning what yor credit score is based on is actually really helpful!
to answer your question, I think those will both have an equal effect on your scoree.
Post # 7
Thanks yall! 🙂 I think I will pay off my small debt amount this week and half the bigger one and then next month pay off the bigger one. Both are under 50% of the card limit.