I paid off my credit card. How soon will my FIcos improve?

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Credit Card guy
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I paid off my credit card. How soon will my FIcos improve?

Postby Credit Card guy » Sun Jun 08, 2014 11:19 pm

I just paid off a 5k balance I had on a Credit Card 5 days ago. I was at a 610 middle score prior to making this payment. Of course I don't expect to jump to 700+(I still owe tons of more cc debt) but was wondering how soon the improvement will be reflected on my fico scores, if any.

Reason I ask is this will depend how quickly I pay off my other credit cards.


haikuginger
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Postby haikuginger » Mon Jun 09, 2014 6:14 am

It'll show a difference in your score after your next statement on that card, showing a zero balance, cuts.

takeshi
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Postby takeshi » Mon Jun 09, 2014 12:36 pm

Credit Card guy wrote:Of course I don't expect to jump to 700+(I still owe tons of more cc debt) but was wondering how soon the improvement will be reflected on my fico scores, if any.

As soon as your balance reports and the CRA's update.

Credit Card guy wrote:Reason I ask is this will depend how quickly I pay off my other credit cards.

If you still have "tons more" revolving debt then you'll want to get it down regardless. Keep in mind: 30% max.

Credit Card guy
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Postby Credit Card guy » Tue Jun 10, 2014 4:17 am

takeshi wrote:As soon as your balance reports and the CRA's update.


If you still have "tons more" revolving debt then you'll want to get it down regardless. Keep in mind: 30% max.


Awesome. Will work on paying them off asap. I thought it would take a long time to see my Fico score go up. I'll be paying at least two more cards which totals about 4k. I'm hoping with that I can at least be above 620 middle score.

juvy
 
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Postby juvy » Tue Jun 10, 2014 2:41 pm

it would be 30 days for any actual improvement to show, that would be your next billing statement.



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