Will my credit score go up when I pay off my car?

Also I have paid off some deliquent charges from more than 4 yrs ago...when will these come off my credit score? It%26#039;s hindering me from increasing my credit limits. I have 1,000 available credit on 3 different cards....and no, that%26#039;s not the reason why I had deliquent charges (medical bills, phone bill, ect...)

Will my credit score go up when I pay off my car?

1) Do not spend more than 1/3 of your limit. That%26#039;s a rule. Say you have $500 credit limit. So do not spend more than $150 with your credit.

2) Do not pay your existing credit balance in full every month. Pay more than minimum payment but do not pay full. Say your minimum due is $10. I suggest you to pay like $50-$70 each month. Yes you should pay some interest but that%26#039;s a price to improve your credit.

3) There are lots of articles here which you can find useful to boost your credit.

http://www.howtoestablishgoodcredit.com/...

Will my credit score go up when I pay off my car?

no, it will not make any difference, better to keep paying on time and maybe pay upfront two to three months, your itnerest will go down and your credit will rise.

Will my credit score go up when I pay off my car?

Bad credit info stays on your credit reports for 7 years from date of last payment/activity

Will my credit score go up when I pay off my car?

yes it will always go up if you pay off a credit line but my credit score skyrocketed when I paid off all my debt and the next month it went down 20 points because I didnt USE my credit cards. I didnt owe a thing and had tons of open credit. so beware...it goes up temporarily.

Will my credit score go up when I pay off my car?

First, Collection Agency (CA) trade lines fall off your credit Report after 7 years, BUT the clock does not start ticking until 180 days AFTER you first became delinquent with the original creditor (OC). If one CA sells the same debt to another CA, the clock does NOT reset (if it does, you have a case for illegally re-aging the account) and the clock keeps running. That is, the 7-year clock starts ticking at the time the OC charges off the delinquent account. Chapter 13 bankruptcy drops off after 7 years; Chapter 7 bankruptcy drops off after 10 years, and tax liens (which involve winning a court judgment against you) drop off after 10 or more years.

You wrote, %26quot;I have 1,000 available credit on 3 different cards%26quot;. This is where you might find the most hindrance to raising your credit limits. That is, here%26#039;s where you might get the biggest point gain.

30% of your FICO credit score is based on your behavior with revolving accounts: what percentage of your credit limit are you using: that is, your balance is what percentage of your limit? They score each individual cc balance and limit. They also score the sum of your balances as a percentage of the sum of your limits. Whether individual or sum, your FICO credit score will be hurt if the balance is more than 30% of your limit.

So you can improve your FICO credit score if your credit limits sum to a total of more than $1428.57, which is exactly the total limit figure that has $1000 as the available 70% of its limit. If you have $1000 available on EACH of 3 cards, you can improve your credit score by paying down the balance on any of the cards that has a credit limit of $1428.57 or more.

By the way, if you pay any credit card down to zero, do NOT close it. Closing a card cannot improve your score. Closing a card can hurt your score, especially if it has a zero balance (30% of your score is credit utilization, explained above), is the oldest open card you%26#039;ve had (15% of your FICO score is age of oldest accounts, that is, the longer the open credit history, the better), or is the only card of its credit type (10% of your FICO score is credit mix: Mortgage, secured auto loan, major cc - MC, V, AmEx, Disc, and department store card are all good types. Payday loans, overdraft loans and personal finance lines of cash advance credit are all bad). Ideally you%26#039;ll have one line of each good type. Close off the only account of a type, and you%26#039;ll lose the mix points. I would only hurry to pay off the auto loan if its APR is the highest APR you%26#039;re subject to. Otherwise, pay your spare funds to the highest utilization, highest interest rate revolving cc%26#039;s.

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