Comments on: Paying Off Holiday Debt

By: Bobk

Bobk — Wed, 27 Feb 2013 02:03:28 +0000

And my current credit score is in the 800s

By: Bobk

Bobk — Wed, 27 Feb 2013 02:02:08 +0000

I’m not an expert but my understanding is that if you pay it off before any interest has accrued, it never gets reported as a debt. It’s better to bay it off in chunks of $2500-3500 and suck up the little bit of interest that accrues over the 3-4 months in order to maintain your credit score and show repayment ability and intent.
Personally I run my cards up about once a year for my timeshare maintenance fee and a few christmas presents and usually pay them off by March at the latest, just to keep accounts open and show revolving/installment payments and get about $15-25 in interest at the most.

By: Pj

Pj — Tue, 26 Feb 2013 10:33:32 +0000

Pay off the smallest one first. Your score will start to improve within a few weeks and get uou motivated

By: Barbara Davis

Barbara Davis — Sun, 20 Jan 2013 16:45:27 +0000

I owe $8500 on credit cards. If I completely pay that off at one time will my credit scores go up. I have no other debt.

Thank you

By: Terry

Terry — Sun, 20 Jan 2013 15:37:34 +0000

Good stuff