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Once you pay off a high balance on a credit card how soon will that affect your credit score? |
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Answer
Once you have paid the credit card balance off it will affect your score the following month. This is because the credit agencies only update your credit once a month. So the month following the payment would reflect the new balance of $0 and the score would be raised at that time.
First answer by ID1127304002. Last edit by ID1127304002. Question popularity: 21 [recommend question]
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Does a zero balance on a credit card increase your fica score? If you pay down your credit card balance will that raise your score? Once you pay off a high balance on a credit card how soon will that effect your credit score?
