Whats the best way to pay down you credit cards to Increase your score?

If I have 10 cards all with the same interest rate, one with a 10,000 dollar limit and the other 9 with 1,000 dollar limits and they are all maxed out is there one way to pay these off thats better than others with respect to credit score?

Whats the best way to pay down you credit cards to Increase your score?

If you have 10 credit cards and they are all maxed out, you%26#039;ll always struggle to have a good credit score.

Missed payments

Total debt levels (maxed out is bad)

Lots of outstanding creditors (you have 10. that;s bad)

Keep your highest card, unless you know you will max it out again. You need to be honest with the fact you have a spending problem.

Pay all your minimums and a little more to the ones with the highest interest rates first. As soon as it%26#039;s paid off, close that account.

You%26#039;d be hardpressed to give a good reason to have more than two credit cards. Pay off 8 of them and cancel them.

Normally I%26#039;d suggest a zero percent interest to pay it off and pay less interest, but you have far too many accounts to make this feasible.

Cut all the cards up. Seriously.

Whats the best way to pay down you credit cards to Increase your score?

I don%26#039;t know for certain, but I would try paying a little more than the minimum on the largest one and 8 of the 9 others. That ninth one, pay as much as you can on to get it paid off and then close the account. Continue doing so with each of the smaller ones until they are all paid off and then dedicate the money you were paying on the 10 to the one you have left.

Whats the best way to pay down you credit cards to Increase your score?

I have heard the following plan used by many...

take one and send extra money to it and pay it off...

then take all that money that was going to the first one you just paid off and use THAT PLUS the money you have been sending to a second card and send all that to the second card.

THen keep repeating that till you reach card #10 and by then you will be sending MAJOR chunks of cash into the card and should be able to get it all paid off very shortly.

hope that helps- but if there are some with higher interest rates....go after the higher interest rate cards first.

Whats the best way to pay down you credit cards to Increase your score?

There sure is I can show you a way to get them paid off within a installment loan before 5 years and not make any payments for this first 4 years. If you are interested email me at creditsurgeon@gmail.com

Whats the best way to pay down you credit cards to Increase your score?

This is not what you want to hear but in looking at your other questions, and you stating that you have basically 10 cards %26quot;maxed%26quot; out. I would say the last thing you need to worry about is your credit score right now. As the only reason you would need a good score is to get more credit. In your case you need to get your current credit under control. Once you have them paid off it won%26#039;t really matter how you got them paid off as your score will be about the same.

One major factor is your credit utilization. That is your TOTAL credit used over your TOTAL credit avaiable. That means it adds up ALL of your credit limits and ALL your credit used. Since you said you are maxed out you are near 100%. Ideally you need to be under 30% for the better scores. There is a sub-calculation for credit utilization on each card but in your case any offset of getting the 9 paid off would be erased by still having the high limit one all maxed out.

I would just concentrate on paying the minimum on 9 of the cards. For the 10th card pay as much as you can until it is paid off. Once it is paid off do the same with the next card. Eventually you will have them all paid off.