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How many points will your credit score go up when you pay a minimum amount due off a credit card?

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2007-10-30 13:08:26
2007-10-30 13:08:26

It depends on other factors, you should pay the credit card ontime.

keep in mind that you must reduce the balance of your credit cards to 30% and below of your credit limit. If you have a credit card with a $5,000 limit, your balance reported to the credit bureau should be $1500 and under in order to have a excellent credit score. If you go over this amount it will affect what is called your "utilization rate."

Credit score formulas respond favorable to utilization 30% and below. It's a good idea to assess all of your credit cards and align them correctly with this formula. Source Credit Bible by Phil Turner.

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Related Questions


You do not need a minimum credit score. You just need to be able to pay off the amount at the end of every month.

There is no direct amount of points that your score will drop. It is all based on your previous credit rating, the timeframe of last negative mark on your credit, the amount of time since charge off, and the amount of credit you have and how its has been handled.

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not paying minimum amount duelack of credit historygetting another new credit cardapplying for a loankeeping a high balance on credit cards compared to their credit limitsetc.

if someone looks into your credit report, yes it will effect your credit score. it will reduce between 3-10 points.

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Absolutely. Your credit score is based on the amount of money you owe, have owed or are in arrears. There is a formula used to compare your income to debt ratio. The higher the debt compared to your income, the lower your credit score.

amount depends on your credit score and the amount of equity you have in your home.

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I recent late payment on an open account can hurt your credit score up to 60 points.

It does but very little, somewhere around 2 points.

first it depends what kind of charge off it is. and your credit score is all up to which credit company your checking your credit on .. there is no real answer to that question.

A charge-off can hurt your credit score anywhere from 20-120 points.


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