Pay off car or wait till Cards produce Credit score?

Hi all,
First let me thank the forum for all it has to offer. I have been a long time lurker so it's my time to post
I had 2 cards with 3 and 2k via credit union and capitalone. Applied may 29th for Costco TE amex getting 5k, while AAoA took a hit I figured I would make temp use of my 707 CS and also applied for quicksilver getting 3k.
So.. I have one personal loan of 1400 down from 3k on 102 monthly from 2014 and a car loan of 4800 down from 15th on a 305 monthly from 2013.
Question is, should I pay off car now (vacation in August so just a means to save $) which also drops insurance by approx $50, or pay it down to approx 3800 and leave 3 months of payments on it ?
Reason being is I'm thinking I could ask for increases on both of these new cards in about 3 months to boost the CL of all my cards overall within the year with systematic increases on my original 2 to catch up to the new amex/cap1. And I'm GUESSING that my car loan still being factored into my credit 3 months from now would be a good thing rather than paying it off and dropping my score, hence lowering whatever CLI I may have had if I left my car on my CR.
Is this thinking correct?
Until 3 years ago I have been plagued with low CL on my cards so now that my score is healthy - now probably in the 680s with recent hard pulls - I can win new cards with respectable limits and grow from there as a solid baseline (I have till 2 or 3 years ago been hit with "too many cards with low CL" so I am thinking I would benefit with a base of solid 3 - 5k cards I can increase over time. Prolly won't buy a house for another 2 years so I figure by then I'll have some great scores.
I have no plans for future large purchases. I have a car and 2 motos so now toys or nonsense on the horizon other than throwing my current wife a surprise bday party in july. My only long term goal is in April of 2016 when Costco ditches the amex which will be bought by Citibank (no approval or reapp just straight conversion) I want to apply for another amen card to always have an amex to grow with.
Thoughts? Please tell me if this is a good idea or if paying car down doesn't matter to begin with.
I can pay my car off this month but I thought I would split the balances on 2 new cards and then pay off approx 10 days after cut statements but before due date to show use and then PIF with liquid balance on hand which I could pay car off with even without new cards.
Thank you so much for any help.

I would like to add also as I am following my updates on myfico. I just traded in my car. Today i got notification of an update and went in to see that is now reporting a zero balance and my score dropped today 19 points. That car loan payoff was the only change. So yes I can attest to the fact that paying off the car loan dropped my score. My new loan has yet to report so idk what'll happen at that time.

Similar Messages

Will my account close if I don't pay off debt?

I've seen other posts about this.
But I changed my credit card and I'm worried if your credit cards/gift cards you used stays in Apple's systems.
I don't want my account to close because I didn't pay off debt of a gift card I used. I'm scared.

No, it won't, but you won't be able to download, redownload, or update anything from the iTunes Store except for podcast episodes until you settle the debt.
(112600)

Trade in upside down car with cash or pay off CC

Didn't see another forum to put this ? at... I am approx 3700 upside down on my current car, and with my family growing, I need to scale down accordingly and change cars. I have 59 months left on my current car note, which I could trade in and add approx 3k to get out of it, then buy a used camry or accord for 12-14k and pay it off in 36 mo. Monthly savings on loan payment would be 115 mo but paid off car 2 years faster. Or.. I could use the cash I would give to make up the deficency balance on my car and pay down my 2 CCs that are above 90% Util.

StartingOver10 wrote:
One more tip: if you have a CarMax in your area, you can take the vehicle there to get a price. They buy vehicles with no obligation to get one of theirs. Their quote is good for 7 days. The good thing about getting a written quote from them is you know the low end of the market pricing .IME they offer more than most dealerships do for a trade, but less than private party. Sometimes it is just easier to go this route (through CarMax) than private party. You might be surprised. I sold two vehicles to them and got more than i had estimated +1 on the CarMax recommendation; there are also some CarMax competitors that have cropped up in the past year or two and they're offering incredibly sweetheart deals if your car is "marketable." @OP: Didn't see this but what's the APR on your current loan anyway vs. the APR on those credit cards? 59 months left out of a 72 or 84 I would assume? Generally speaking it makes sense to airstrike CC debt over any secured debt instrument, but if the car isn't working for you anymore, it's not working for you and if you have to change with increased size of family, well yeah, welcome to being an adult I guess . If you have some time, might not be terribly bad idea to at least look at refinancing the vehicle. End of the day look at your debt and cashflow post transactions, as that's highly variable as a result of balance size and APRs in this case of the various tradelines, and do yourself a favor and do evaluate the "need" of the vehicle switch, not saying it's wrong and appears written planned on the page from my perspective, but might make sense to delay that somewhat financially. You have options in this case.

Best to pay off credit card all at once or slowly over time?

My urrent FICO score is ~730. I just received a bonus and I want to pay off my sole (CitiBank) credit card with a significant balance. Should I pay it off all at once or would it be better to pay it off slowly over an extended period?

It really doesn't matter. If they're going to balance chase you they're going to balance chase you. You're not doing yourself any favors by keeping your utilization higher for a longer period of time. Short term high utilization generally isn't an issue but prolonged high utilization can lead to adverse action. richmcnutt wrote:
My urrent FICO score is ~730.Keep in mind that there are 3 CRA's and many FICO models. For a given model you probably have 3 scores (aside from the ones that are CRA-specific). For a given CRA you have multiple FICO's. The score that matters is whatever score (and CRA) the creditor pulls for you. See also the Understanding FICO Scoring subforum and its stickies. CreditGuyInDixie wrote:
There are a number of other things you can do to improve your score (long term). For example, in the long game you need more than one credit card. FICO views a profile with only one card as "thin."This. Lower utilization is generally better as long as you don't have all 0 balances reporting. Fewer balances are generally better. That's why the recommendation to only allow one balance to report at 10% or less (or $2 according to CB) is suggested for those looking to eke out every possible point when applying for new credit.

How can i pay off a balance using itunes gift card?

i have a balance of about 16 dollars, and i got a 15 dollar gift card, how can i use it to pay off the balance?

If you tap on your id in Settings > iTunes & App Stores on your iPad and log into your account, does your balance show at the top of your account's screen (mine shows above the 'Apple ID' line at the top).
If it doesn't show there then have you tried logging out and back into your account, and have you checked your account's purchase history (e.g. you didn't have any pre-orders or auto-renewing subscriptions that were due) ? On your computer's iTunes you can view it via the Store > View Account menu option, on your account's page you should see a Purchase History section with a 'see all' link to the right of it, click on that and you should then see a list of your account's purchases. On your iPad you can only view a cut-down version of your purchase history via http://reportaproblem.apple.com
If you can't find where it went then try contacting iTunes Support and see if they can help with what happened to it : http://www.apple.com/support/itunes/contact/ - click on Contact iTunes Store Support on the right-hand side of the page, then Purchases, Billing & Redemption

My iTunes card is NOT paying off my over due balance!

Hey Guys! About a month ago i have a visa gift card registered to my itunes account and it had about $4 on it left so i bought one game with that on my iphone. Then I clicked on another game and it let me download that, and 2 more after that. I found it strange that they let me keep purchasing, but i figured that they would charge me through my service provider for my phone. Well a couple weeks later i tried to download a free app onto my iPhone, but it said there was an error with my last billing transaction, so i logged on to my itunes account on my computer and it said i had an over due balance of $28.20. So after speaking to apple they told me that i SHOULD BE ABLE to buy two $15 iTunes gift cards, register them and they should pay off for my over due balance. So after buying and registering these 2 $15 cards (total of $30) i went into my purchase history and it said i have $28.20 overdue, but i do have enough to pay off my outstanding balance, so i clicked on "Pay." At the top of my screen on itunes it says "Accessing iTunes Store" for 2 seconds then it goes away and nothing else happens...i sign out and back in i still have $30 in my account, i close iTunes and reopen and i still $30...Can someone PLEASE HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
when i sign out and back in it says "Your Billing info has been changed outside of iTunes, Please approve your billing information for use in the itunes store"
god i hate how they make you HAVE to in put a credit card!
Message was edited by: B_Ram

E-mail itunes store support.
http://www.apple.com/support/itunes

What effect does closed credit card accounts w/ a balance I'm paying off have on my credit score.

I've closed three credit card accounts and I'm paying off the balance on them What effect does that have on my credit score?

Don't think it will take a hit right now. It stays on your report for 10 years after you close it. Even though you pay it off, removing the cards will raise your available credit, leading to a higher UTIL %. But UTIL % is overrated. Long as its below 30%, should be fine.

HT201359 Can I pay off my App Store past due balance from a game ex.(candy crush) using an iTunes card or do I have to pay via credit card/PayPal?

Can I pay off my App Store past due balance from a game ex.(candy crush) using an iTunes card or do I have to pay via credit card/PayPal?
I Have a past due balance from
buying gems from a game I played since my paypal account cant cover it I can no longer download any apps til the bill is paid I have already purchased an iTunes card that comes with redeem code. Did I buy the wrong card or is it possible to pay bill using itines card ?

Prepaid cards or gift certificates should clear the balance, yes. You could also put in a credit card to pay off the balance, then remove the card information once the balance has been cleared.
Regards.
Message was edited by: Dave Sawyer

Can i use an iTunes Gift card to pay off the money I owe?

Hi, i was wonder if i can pay off the money i owe to iTunes using an itunes gift card. in Canada
btw i bought some apps and thats why i owe money.

For apps, sorry but no. Canadian users cannot, for reasons not well explained, cannot purchase software from the iTunes Store via prepaid cards. You'll need to enter in a credit card, at least temporarily, to pay off the balance.
Regards.

Paying Off Credit Cards

Ok so I have about 70,000 in CC debt and I am about to pay off 50,000 of this debt this week but would like some insight on the best way to do so that will increase credit score. Should I pay off highest cards and still have about 11 cards all under 3000 or pay down cards to get debt ratio say under 20% on all cards? I kinda want to pay off all high balances which will knock out about 12 cards but will still leave some other cards with high utilization. Hopefully I will pay off other 20,000 in next year to get out of debt. Give me your thoughts...

HYPASS33 wrote:
Ok so I have about 70,000 in CC debt and I am about to pay off 50,000 of this debt this week but would like some insight on the best way to do so that will increase credit score. Should I pay off highest cards and still have about 11 cards all under 3000 or pay down cards to get debt ratio say under 20% on all cards? I kinda want to pay off all high balances which will knock out about 12 cards but will still leave some other cards with high utilization. Hopefully I will pay off other 20,000 in next year to get out of debt. Give me your thoughts...Good plan for the pay down. My own balances are down from $116k in 2009. With May and June payments this year, I crossed what I think are two major scoring levels:Total revolving balances went below 20% overall utilization on active/reporting cards (other closed cards and hidden Diners are not in this calculation)At the same time, the last of several individual accounts went just below 50%. Said another way, after mid-June, no individual revolving accounts were over 50% utilization. In June, as these were all coming together, my scores jumped up over a 4-week period:May 31: EQ=714 TU=727 EX=731July 8: EQ=756 TU=775 EX=765 So my recommendation is to try for that:No individual balances over 50% utilizationOverall utilization below 20%. Good luck!

I just bought an Iphone 5 and my wife told me that this iphone lock on to the first sim card that is placed in it. I am abroad now, should i wait till i get home before i use my phone.

I just bought an Iphone 5 and my wife told me that this iphone lock on to the first sim card that is placed in it. I am abroad now, should i wait till i get home before i use my phone.

Read http://macmost.com/setting-up-multiple-ios-devices-for-messages-and-facetime.htm l
If you wish to share an Apple ID with family members then read: http://www.macstories.net/stories/ios-5-icloud-tips-sharing-an-apple-id-with-you r-family/

I want to cancel my broadband and pay off my debt.

Recently I was shocked to discover that my direct debit had been altered to £73.50 a month! I was informed, upon contacting your billing people, that this was due to a number of phone calls I had made. I have since discovered that the internet phone which was provided with the Option 3 Broadband package is no longer being produced and, therefore, my free evening and weekend calls no longer apply. No warning was given or any information about this passed to me! I have been informed that the onus was on ME to find this out! I entered a contract and the terms of that contract were made clear to me and that contract has been broken as far as I am concerned.
Ever since I made the terrible mistake of signing up for BT Broadband, I have been treated appallingly and it is my wish to cancel my Broadband and no longer have anything to do with British Telecom or its services. From day one my speeds were absolutely ridiculously slow and I had to go through the indignity of calling an Indian call centre who's staff would give the constant run around with the usual "Switch it on and off again" stupidity. We are talking speeds of less than 1meg which was not what I was paying for. I was even, on a few occasions where I said there was something wrong with the line, called a liar and had the phone slammed down on me. Throughout this time I was charged £65 a month which was way over the agreed amount but I accepted this as I was told this was the charge for installation.
This £65 bill went on for longer than I care to remember (And certainly much longer than was necessary to pay off the installation charge!) so I contacted one of your staff who agreed that I was paying way more than I should have been and so the charge was reduced to £40 a month. I was told that it would always be £40 a month and was assured that that was set in stone and would not change. Once again your staff have lied to me.
I spoke to one of your staff recently, after they had contacted me enquiring about my cancellation of the direct debit (I had no choice as we have no income and are awaiting news on benefits and have a chronically ill baby son so any money we do manage to scrape together goes on train fairs to Great Ormond Street for his treatment. I also have a chronic kidney condition which is potentially fatal and have had to give up on my own medical treatment, essentially condemning myself to death, as I can no longer afford to get to my own appointments. I include this information to illustrate just how terrible our financial situation has become.) explaining that I wished to cancel my BT Broadband and phone package as I am moving home and simply cannot afford to have a landline and internet package anymore. I was advised that I should wait until I had further information on my move, as the moving in date had not been set yet, and call again where I would be able to cancel my package and come to an arrangement to pay off my debt (Which would be around the £140 mark - your staff are unable to give me a fixed sum as of yet) in instalments.
I called today to cancel my package on the date of 24th May 2012 (Our moving date) and arrange said instalment plan only to be told that I am unable to come to an arrangement to pay the debt if I dare to leave British Telecom and that they will have no option but to contact a debt collection agency to claim the amount in full unless I renew my contract(!). It is my understanding that, as I am not in contract with BT anymore, I can cancel my broadband package any time I please and it is also my right to arrange a payment plan without being bullied and cajoled into staying as a BT customer when I have absolutely no desire to do business with this company EVER again.

Hi I suggest you contact the forum mods they should be able to get your problem sorted for you this is a link to them
http://bt.custhelp.com/app/contact_email/c/4951
they normally reply by email or phone directly to you within 3 working days
They are a UK based BT specialist team who have a good record at getting problems solved
This is a customer to customer self help forum the only BT presence here are the forum moderators
If you want to say thanks for a helpful answer,please click on the Ratings star on the left-hand side If the reply answers your question then please mark as ’Mark as Accepted Solution’

I HATE the Droid "Incredible" and I can't wait till my contract ends!

I'VE BEEN WITH VERIZON FOR 9 YEARS AND I'M SO OVER THERE SERVICE! I HAVE HAD THIS PIECE OF CRAP PHONE FOR ALMOST TWO YEARS (20 MONTHS TO BE EXACT) AND IT HAS BEEN NOTHING BUT PROBLEMS AND ISSUES
FOR STARTERS, (removed to comply with VZW Community ToS)! I HAVE A CHARGER AT HOME, IN THE CAR AND AT WORK. I'VE TRIED TURING OFF THE GPS TO SAVE SOME LIFE BUT THAT DOESN'T HELP. I HARDLY USE THE INTERNET, BUT GOD FORBID I CHECK MY EMAIL BECAUSE THAT WILL MEAN MY FULLY CHARGED BAR IS NOW AT 50%. YES, I HAVE THOUGHT ABOUT GETTING A NEW BATTERY. I MIGHT AS WELL GET A NEW BATTERY EVERY 3 MONTHS THEN. BELIEVE ME, THE "SUPPORT" TECHS THAT I'VE DEALT WITH DON'T KNOW ANY MORE THAN WHAT I ALREADY KNEW! "RESTART YOUR PHONE." "TAKE THE BATTERY OUT." "MAKE SURE YOU UPGRADE." HOW ABOUT GIVING ME A FREAKING PHONE THAT FREAKING WORKS!! I'VE UPGRADED THE SOFTWARE BEFORE AND IT SEEM TO HAVE MADE IT EVEN WORSE!
DROPPED CALLS ARE MY FAVORITE PASTIME WITH THIS PHONE. YEA, I LIKE HAVING AN IMPORTANT CONVERSATION JUST TO HAVE THE CALL DROPPED. I HAVE TO CRAMP MYSELF IN A CORNER JUST TO MAKE A CALL, AND NO I DO NOT LIVE UP IN THE TREES. THE PEOPLE THAT LIVE WITH ME HAVE VERIZON AND CAN MAKE CALLS JUST FINE.
OH, I ALSO LOVE WHEN MY PHONE IS FINALLY CHARGED (AFTER 3 HOURS) AND I UNPLUG IT AND MY PHONE SHUTS OFF. NO BUTTONS PRESSED. IT JUST SHUTS OFF. IT ALSO SHUTS OFF ON ITS OWN WHEN I TEXT TOO MUCH AND I JUST LOVE HOW IT FREEZES WHEN I USE THE CAMERA. ALLOWING ME TO HAVE TO TAKE THE BATTERY OUT (AGAIN) JUST SO I CAN GET IT TO WORK PROPERLY.
VERIZON OFFERS NO "SUPPORT". I HAVE TO WAIT TILL MY RIDICULOUS 2 YEAR CONTRACT TO END IN ORDER FOR ME TO GET A NEW PHONE. UNLESS OF COURSE I WANT TO SHELL OUT $500+ FOR A NEW ONE TODAY. I ALREADY PAY A RIDICULOUS AMOUNT EVERY MONTH FOR MY CRAPPY CONTRACT, SO NO. YOU WILL NOT BE NICKEL AND DIMMING ME ANY FURTHER. THERE ARE OTHER PHONE CARRIERS THAT OFFER MY SAME PLAN AND FOR LESS AND WITH THE PHONE I WANT. I REALLY THOUGHT BEING A LOYAL CUSTOMER STILL MEANT SOMETHING THESE DAYS, BUT WHO AM I KIDDING. I'M JUST A DROP IN THE BUCKET TO THEM.
Message was edited by: Verizon Moderator

Gjr8103, I agree with you! Having issues with your phone is never a good time and I’m here to help! I want you to have a working phone that you’re happy with and would hate to lose you as a customer. Let’s get to the bottom of this!
From what you mentioned it seems you’re having quite a few issues. Did they start after a recent software update? How long is your battery lasting? Is the phone charging completely? Keep in mind the battery life depends on the usage and Internet access will definitely use up the battery faster.
Let make sure a third party app previously downloaded on the phone isn’t causing the problems. Run the device in safe mode http://bit.ly/p5eed2 and see if you notice a difference. If you see an improvement you will need to delete all third party apps and reinstall them one at a time to determine which one is causing the problem.
If there is no improvement while in Safe Mode the next step would be a hard reset. Since you are having so many issues with the phone a hard reset is highly recommended. This will even help out with the dropped calls your experiencing. I know this can be very inconvenient to do but, it’s a very important step in getting these issues resolved.
If you are still having the same issue after the hard reset http://bit.ly/oOaRQt please send me a DM with your name and mobile so I can access your account and see what options are available to you.
John B
Follow us on Twitter @VZWSupport

ESPN stopped working- got to wait till 1st August?...

Settling down to watch UFC162, saw lots of new channels in my line up like EUROSPORT and BBC HD, and even though they don't work I thought, ooh , this looks good.
Tried o put ESPN on and noticed it's gone to a broadband channel. Sure enough, black screen. Rang BT Vision and they said I've got o wait till 1st August.
What a stupid system, a warning before te update would have been nice! Also, seeing a list of channels that I won't be able o get is pretty galling as well. No infinity on my exchange, but I get 19 Mb, so it really frustrates me, and I work for this flipping company as well - hard to defend or recommend to family and friends when this kind of thing happens.
Can anyone help please?

Denb wrote:
Well that sucks! Problem is ,even though my exchange is due to get FTTC soon, I can't see my cab getting it, as there are only 100 e sides and only about half of them are workers. Take out all the other CPs and I bet there's only about 30 BT customers. Kind of annoying, as with a steady 18-21 Mb sync speed, my line is quick enough.
Firstly, I should have also mentioned that those in situation (1) above will of course get access to BT Sport 1 & 2 on Freeview channels (currently 58 and 59) from Aug 1st using the viewing card.
I assume that you were moved onto the multicast software for a good reason and not by mistake. Was it because you also have Sky Sports and so now need to get them via ADSL because of the Freeview turn off?
If BT are going to provide ESPN via ADSL from Aug 1st (as it says here ) then it does raise the question of why can't they provide it in its current form during July? They are providing Sky Sports now so why not provide ESPN as well? This does seem to have been badly thought out by BT. I guess you'll just have to live with it for a few weeks.
I'm lucky enough to be on Infinity multicast, so can get all the possible channels. I can currently view Sky Sports 1&2, ESPN, Eurosport 1&2, and also the BT Sport 1&2 SD and HD promotional transmissions. Those not yet able to get Infinity do have to put up with a second class BTTV service when it comes to live sport.

Please Help! Can I pay outstanding balance with a gift card?

I've been getting really frustrated with Apple the last day or two, I just can't seem to get a hold of the right person. As I type I'm currently on hold with tech support who's waiting to transfer me to lord knows who.
I had an iTunes outstanding balance of $15.19 and bought a $15 gift card to pay it off. After redeeming the gift card on my iTunes, it shows the credit and the outstanding balance remains unchanged. I thought that it would have automatically gone towards paying the balance.I've tried inputing my credit card info and it keeps telling me that the security code on the back is invalid. Can anybody help me with this cause Apple sure isn't a doing a very good job of it. Thanks!

It should have worked. Contact the iTunes Store Customer Service department using the form on their Support page (select the category and subcategory closest to the issue you're reporting and you'll find either an "Express Lane" button - just follow the instructions to get to the contact form - or an "Email Us" button) and explain your situation to them.
BTW, there is no telephone support for the iTunes Store, so don't waste any time on hold with Apple tech support; they can't help.
Regards.

Pay off car or wait till Cards produce Credit score?

Similar Messages

Maybe you are looking for