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Got a question, hope someone can answer... How can I find money gram code for tribute Discover Card? Thanks in advance for any response. Another quick question... I only have three active cards - one has a balance of $0, one is at 80% utilization and one at 90% utilization. With my tax refund in a few weeks I can pay off the 80% (small limit) and bring the 90% one down to about 30-40%. I've never been late, etc. Will this help my score much? I have other cards on my report showing as always paid (10-15 years old) though I don't have the actual card anymore... |
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Hmm... I need to find out myself. I don't know what is the answer. I'll do some research in Google and get back to you if I find an useful answer. You should email the people at Discover Card as they probably could give you help..
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Nobody can give you a number of points, but bringing your utilization down will ALWAYS help...
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Utilization is one of the most important factors and one most under your control...
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+1.
I had one month where EVERYTHING was paid, and was reporting at 0 TOTAL as I PIF'd my daily card the day before statement cut. I thought my score would go up substantially. However, it went down some.. Now I don't care if my daily card reports each month, but will try to pay some before statement cuts to lower it.. Messed up this month though as I thought statement cut on the 14th, but is really the 11th. Now $11,000 reporting!!!.. |
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I can agree, if you pay it all of it might actually drop your score, best bet would be to pay like 20% off each month for the next 5 months or until paid off.. not sure why it's like that.. or pay off one card, wait for the other.. than pay that one off..
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When one person does something....
THAT DOESN'T MEAN YOU WILL HAVE THE SAME OUTCOME AS THEM DOING THE SAME THING.. |
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Frankly I would pay it off ASAP regardless of FICO. but then some people prefer to pay more interest instead of less...
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I would pay it all off. This is one of my plans with my tax return. I have used 96% on my Discover credit card and I so want it paid off. I only owe $719 so not a biggie compared to some...
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Don't do what is good for.
F.I.C.O.. Do what is good for you.. |
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I just paid off one of my large cards bringing my overall util down from 54% to 24% and I got a 50 point increase on EQ... YMMV...
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I agree. It completely depends on what else is on your report....if you have a fat file or a thin file, etc etc..
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Why would you choose to pay more interest when you don't need to? Some people are overly concerned about their day-to-day score when it really isn't that important...
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I doubt FICO cares how fast your utilization goes down. I'm sure it only cares what your utilization is currently...
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I don't know...when I did myfico for DH, it shows his charge off as being figured into the revolving aspect of his credit report. One part of the simulator says if I pay it off in one month his scores will go up to anywhere between 680-720. Another one shows if I pay it off in pieces ($500 a month for a few months) that it will be between 611-641. Go figure.....
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Well, what's good for me is to have my FICO high enough to qualify for a mortgage...
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I agree 100%, but it's disconcerting to see your monthly util listed.
On EXP reports. I doubt the creditors see those entries, but its. Being tracked by EXP and we all know EXP does NOT serve the consumer... |
