H
Hayzen
Guest
Hi all,
I came into some money and planning on paying off my credit card but I want to find the best way to build good credit because I won't be using this credit card anymore. I'll keep the credit card account open, but I just won't use it unless I really need to.
Let's say my limit is $10,000 and my balance is $7,000. Is the best way to build the best credit is by doing option:
1.) Pay off the whole $7,000
2.) Pay off a big chunk (i.e. $3,000) and continue making minimum monthly payments
3.) Pay off a big chunk and continue making monthly payments but more than the monthly minimum
4.) Only continue making minimum monthly payments
5.) Making monthly payments but more than the monthly minimum amount
6.) Another option that I didn't think about
Also, if my minimum monthly is $100 and I wanted to pay more than the minimum, how much more is good? $200? $500? $110?
Thanks all!
I came into some money and planning on paying off my credit card but I want to find the best way to build good credit because I won't be using this credit card anymore. I'll keep the credit card account open, but I just won't use it unless I really need to.
Let's say my limit is $10,000 and my balance is $7,000. Is the best way to build the best credit is by doing option:
1.) Pay off the whole $7,000
2.) Pay off a big chunk (i.e. $3,000) and continue making minimum monthly payments
3.) Pay off a big chunk and continue making monthly payments but more than the monthly minimum
4.) Only continue making minimum monthly payments
5.) Making monthly payments but more than the monthly minimum amount
6.) Another option that I didn't think about
Also, if my minimum monthly is $100 and I wanted to pay more than the minimum, how much more is good? $200? $500? $110?
Thanks all!