Credit Score?

I have 2 Credit Card which are almost Maxed out and I checked my Credit Score the other day and It was really low, and I know that it because of my Credit Cards so what I want to do is pay them both off asap, will that raise my score back up?

Public Comments

1. Eventually, yes. But, keep the cards open, but just no balances on them. If you close out the accounts, that is worse than leaving the accoutns open with a zero balance. Having maxed out credit cards isn't going to really lower your score. It's being behind on those maxed out credit cards that hits you hard. So, if your score is really low, there is more to it than just 2 maxed out cards.
2. First off, I'd call my credit card companies and see if I can negotiate a lowered interest rate based off of my good standing, on time payments, etc. 2nd I'd start paying considerably more than the minimum required payment each month (this just depends on how much you can afford.) Maybe start paying extra on the higher interest card and the minimum on the lower rate one. 3rd once they are being paid down quicker changes in score will happen slowly. If one gets paid off, without another line of credit being added, or more on the other card. You'll see a diference in your score in about 3 - 6 months. It all just takes time. And stop using them. Set a budget and put your cards in a block of ice.
3. you want to keep them below half. and pay them on time.
4. Yes, it would help a lot; and I would also close one of those accounts. A large credit limit means you can get deeply into debt very quickly, and prospective creditors don't like that risk. Having just one good card and a regular payment record makes you a better risk.
5. pay them fooo but don't close them, since that hurts your credit too
6. It may help, but they consider a number of things (ie, debt ratios, etc.) with late payments being a real killer.
7. my one off at a time
8. Actually your score will increase the most if your balance on those cards is about 25% of the limit. Paying them off will definitely raise your score, but having some balance on there shows the credit companies that you are using your credit, and are responsible about maintaining low balances, resulting in an even higher score.
9. Yes, your score will go back up once you pay them off. The fastest way to pay them off is to put as much as you can on the one that has the highest interest rate while paying the minimum on the 2nd one until you get the 1st one paid off. Then you can concentrate on the next one. Don't make the mistake of transfering the balance to a 0% card. That could hurt your score. You can find other tips like these at http://www.your-credit-solution.com . Cheers