Hello all.
I have a question. I finally paid off my vehicle last year and with my taxes coming back and being at my job for a while, I have the ability to pay off my old credit card debts. The balance of all them together is about $2500. Now all of my cards have been closed since about 2009 but I have still been paying on them here and there.
My question is, would it make any difference to my credit score if I was to pay it all off in one lump sum or to make steady payments for a few months then pay it off? I know it's better to establish a good payment history but with the accounts already being closed does it really make a difference? I am itching to just pay them off and be done with them, but I would like to help my credit in any little way possible.
Thanks in advance
I have a question. I finally paid off my vehicle last year and with my taxes coming back and being at my job for a while, I have the ability to pay off my old credit card debts. The balance of all them together is about $2500. Now all of my cards have been closed since about 2009 but I have still been paying on them here and there.
My question is, would it make any difference to my credit score if I was to pay it all off in one lump sum or to make steady payments for a few months then pay it off? I know it's better to establish a good payment history but with the accounts already being closed does it really make a difference? I am itching to just pay them off and be done with them, but I would like to help my credit in any little way possible.
Thanks in advance
Comment