Paying off in large lump sum vs. paying large monthly payments…

Jan 312011
 

I have read on another website that it is a good idea to pay your credit card off in maybe 3 or 4 large lump sums. It said it willhelp your score icrease since there are ther eis positive payment history and FICO sees that over time….could this be true? I’m just trying figure out the best way so I can really get my score to increase over the nxt 4 months or so.

Credit card balances are below?

 

1000 limit       balang 980

400 limit         balance 415

300 limit         balance 240

500 limit         balance 800

 

I will be making large payments in 4 more days!

 

 

Which way to go?. Pay to Delete on 3 collections or reduce credit card debt?

Aug 222010
 

I may shortly be in a position to do one of two things:  either offer a Pay to Delete to remove 3 collection accounts, or use the same funds to reduce credit card balances to well below 10%.  Which would give me the greatest increase in my FICO score?

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