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However, be careful; your question was about improving your credit score. The key is to keep you balance below 30% of the balance. Paying higher interest rate credit cards will not increase your credit score. However the balance on those card will affect your score greatly. ------------ You would be best to pay more to those credit cards that have a higher interest rate. Don't miss payments on any card if you don't want to ruin your credit rating.

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The key is your utilization ratio on each credit card and for maximum calculation it should be below 30%. If you are interesting in using your credit in the short run it is NOT a good idea to close your accounts because your credit score will go down. Also you said that you will leave a balance and those accounts will automatically close if there is not activity on the card so I recommend that you spread the balance for optimum credit score. Below is a way of interpreting your credit score. Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges: * 720-850 - Excellent - This represents the best score range and best financing terms. * 700-719 - Very Good - Qualifies a person for favorable financing. * 675-699 - Average - A score in this range will usually qualify for most loans. * 620-674 - Sub-prime - May still qualify, but will pay higher interest. * 560-619 - Risky - Will have trouble obtaining a loan. * 500-559 - Very Risky - Need to work on improving your rating.

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Q: To improve my credit score am I better off paying a couple of credit cards in full and leaving higher balances on the rest or paying them all off in equal percentages?
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Is it better for your credit to pay all of your balances down to half or pay one or two in full?

Just make sure that your balances are below 30% of the credit limit. For example, if you have a credit card with a limit of $1,000, make sure that you do not leave a balance higher than $300 or lower. This is called utilization ratio and will increase your credit score. Just make sure you leave a little on you credit card to keep a higher score. I recommend that you set the money aside in an account that will allow you to pay off all debt at will but you are leaving a balance because it gives a better score. Source: Credit Bible by Phil Turner.


Is it better to pay everything to increase the credit score?

Using credit wisely, and paying off all balances immediately, is ideal but often not possible to everyone. An alternative to paying off all balances at once is to increase the lines of credit on your accounts. This reduced the ratio of debt to the card's maximum allowance, which is a factor in credit ratings. You can call most credit card companies and ask for credit line increases and also a reduction in APR. But I wouldn't suggest this unless you will NOT increase your balances, and will continue to make payments to reduce overall balances. Also, account inquiries impact your credit score, so I wouldn't do this right before requesting a loan for a car or mortgage.


Is a credit score of 650 to 746 good?

yes, the later (746) is better than the 650 score. The higher score 746 probably means you've had credit card for a long time with low balances. This customer usually pays in full and doesn't pay interest. The 650 score probably has mid balances and may have had a few lates within the past few years


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