Does paying off debts automaticaly raise your credit score?

Im paying off an old $1,500 credit card debt how many points will be added to my score, or is that not how it works? my score right now is in the mid 600%26#039;s

Does paying off debts automaticaly raise your credit score?

If they are collections they will raise your score a little, but whether or not it is the best idea depends on how old the collections are. The older the derog. line of credit the less it impacts your score, however if you make a payment to them, it moves the derog. line from an old derog. to a new derog. because they go off of the date of last activivty.

Now if they are open accounts (especially revolving accounts, i.e. charge cards) then it will drastically improve your scopre by them off, and or, paying them down to less than 50% of the available limit on each line.

Does paying off debts automaticaly raise your credit score?

YES it does!! We just paid off a whole buncha bills two weeks ago and BAM!! credit card offers up the wazoo!!!!..lol

Does paying off debts automaticaly raise your credit score?

it takes some time for u to raise your credit score.. paying off your debts (and faster) is def. brownie pts, but u wont see changes for at least a month or so

Does paying off debts automaticaly raise your credit score?

no. do not pay off your collectionsk this will not help your credit score at all, in fact, will probably lower it.%26#039;

ideal is to pay your credit ca rds down to under half the credit limit...

Does paying off debts automaticaly raise your credit score?

Paying debts to ongoing creditors that are in the business of lending raises your score, but paying debts to collection agencies that bought them from creditors who wrote off those debts do not help at all. Too many potential lendors accessing your credit report will lower your score.

Does paying off debts automaticaly raise your credit score?

I wish I know