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Is it better to pay off one credit card at a time or pay equal amount on each card to raise FICO score?

Trying to raise my credit score. I have 4 credit cards. Should I pay one off at a time or equal amount to each card. Each card has almost the same interest rate and yearly fee.

Public Comments

  1. pay one off asap then put all your current charges on that card and pay it off every month. you're paying interest on current charges and that is eating you up.
  2. Its definitely better to pay the credit card with the highest interest rate first.
  3. A big part of your score is based on the ratio of revolving debt to available credit limit. Carrying balances of more than 30% hurts your score. Best way to improve your score is to pay down the credit card balances. If the interest rate is the same on all your cards, I suggest you concentrate on the lowest balance first, while making minimum payments on the rest. When the lowest balance is paid off, move to the next till they are all paid in full. Then only charge what you can afford to pay in full each month. Since you are paying yearly fees for those cards, I suggest that after you pay off the balances, you call and request those annual fees be eliminated. If they refuse, close the account. There are many different credit cards that do no charge annual fees.
  4. Pay off the minimums on all of them, so you stay current. Then send a big check to one of them. As far as FICO is concerned, it's a wash, because they count "total credit used" / "total credit available"
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