I have 3 credit cards and an auto loan on my credit as of now. All others have been closed and closed with good standing(no collections, or major marks against me at all) I did have a car loan a few years back that I was late on 2 times in 66 months, but it has been paid off for some time now and shows "pays as agreed" on report. That's the only bad bad mark on it. A couple months ago my score was somewhere around 720, now it is showing 635. After reading the posts on this site, I have found out that, (little did I know) using a credit card to help credit is a good idea as long as you don't Max it out. I thought the opposite, I thought you had to use it and then pay on time payments to get a better score. Much more to it than that. Oh well, water under the bridge, now I just want to FIX it and get it back to at least a 720 or 740 again. I have the means of paying off all cards within a month (like I said, I thought I was suppose to use it up, then pay it back over time to establish credit ) I just need to know what is the best way to go about it to get the greatest increase in a 3 to 6 month
period of time. Some forums say pay all off at once, and some say doing that, didn't give them much of a increase in points, others say to pay most of it off and then keep paying every month for a little while to see a big increase. Some say it depends on the day the card reports to bureau. Please, any advice or personal experience you have similar to my issue would help me a lot. I am new to credit cards and the whole scoring thing ,I just got my first credit card 1 1/2 years ago and before then, didn't pay much mind to my credit score, but now I REALLY want to get it back up and keep it up. I pulled my credit report the other day, this is some information that might help:
Capitol One $645/$750 reports to bureau on the 10th
Maurice $0 / $150 reports to bureau on the 21st (just paid this one off. it wasnt showing paid yet when I pulled report)
would it be best to pay off the capitol one first since its a major credit card, or does it matter? also, should I just pay them all off at once or pay most of it off, then pay them over the next couple of months? I just want to get the largest increase in the next 3 to 6 months that I can.