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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Credit question
Is paying off cc to a zero balance going to raise my score as long as I keep them open??
I have a cc that actually shows my credit score and well, it didnt change 
Just trying to get rid of this debt! 
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Posted 8/31/06 12:28 PM  |
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MrsMerlot
Unconditional Love
Member since 4/06 6005 total posts
Name:
Chrissy
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Re: Credit question
Don't pay 100% leaving a zero balance. I know it sounds INSANE, but you get more credit, and increase your score by leaving a balance. Pay the mid-point of minimum amount due and the balance.
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| Posted 8/31/06 12:29 PM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Credit question
Great..One is paid off..$0 Balance the other two have small balances $200/300 or a little more.
Argh!
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| Posted 8/31/06 12:31 PM |
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LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
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Re: Credit question
Posted by Smileyd17
Great..One is paid off..$0 Balance the other two have small balances $200/300 or a little more.
Argh!
hey I can bump up that balance for ya!
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| Posted 8/31/06 12:32 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Credit question
One of the credit sites has a thing that tells you what you need to do to increase your credit, it gives you the reasons for your score and action steps to raise it. They say the best thing you can do to increase your credit score is to pay down 90% of your debt over 24 months. Debt/Credit ratio is a big thing.
FH has never paid anything late or missed a payment, but his score has gone down since he got a car, charged on credit cards etc. His debt/credit ratio and his debt/income ratios have gone up.
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| Posted 8/31/06 12:34 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Credit question
if your score is already high- it's not going to up much or at all
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| Posted 8/31/06 12:35 PM |
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MrsMerlot
Unconditional Love
Member since 4/06 6005 total posts
Name:
Chrissy
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Re: Credit question
Posted by Smileyd17
Great..One is paid off..$0 Balance the other two have small balances $200/300 or a little more.
Argh!
Here's what you can do:
ie:
CC - $5000 limit
$200 balance
pay off $100 each month
put Netflix, AT&T/cable/phone bill, etc. on it, so that you keep using it, but end up paying more than the minimum due....
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| Posted 8/31/06 12:37 PM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Credit question
TY!!! 
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| Posted 8/31/06 12:48 PM |
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