I have 50k in personal credit. I am also an AU on 50k in one Amex card.
I had 18k in revolving debt reporting and 6.8k on the AU balance… been at about 25% UTIL for 6-9 months with the scores of 620/638/672 of late.
Just paid off all 18k in revolving debt which will take me to 6.8% for the one AU. Essentially zero balances on all my cards except a reporting balance of about $ 100 on my main credit card.
Wondering so much how much of an effect having all these cards paid off will have. Some of the cards were 50-80% UTIL and now they are all ZERO! woo! I’m presuming the one negative will be that when each statement cuts with zero balance, I will have little interest amounts posted to each account I paid off… so I will have a bunch of accounts with $ 0-50 balances… LOL
Negatives bringing my scores down are old tax liens from 2008-2012 and ONE baddie thats too big to pay off from 2012…..