Pay off credit card debt: Reducing what you owe on your credit cards will
lower your credit utilization ratio quickly, which is key to giving your credit score a boost.
Pay off credit card debt: Reducing what you owe on your credit cards will
lower your credit utilization ratio quickly, which is key to giving your credit score a boost.
Not exact matches
Another great thing about an excellent score is that as long as payments continue being made on time and
credit utilization (card balances /
credit limits
ratio) is kept as
low as possible, the score can recover relatively
quickly — typically within six months — from some of the lesser «offenses,» such as opening new accounts.
You can, however, gain some initial progress very
quickly by
lowering your
credit utilization ratio or fixing errors on your report.
Keep your
utilization ratio low (outstanding debt to
credit lines
ratio) in order to improve your
credit score
quickly.