Comments on: How Debt Affects Your Credit Score http://www.greenpandatreehouse.com/2008/06/how-debt-affects-your-credit-score/ Personal Finance for College Students and New Graduates Thu, 02 Feb 2012 14:14:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Logan http://www.greenpandatreehouse.com/2008/06/how-debt-affects-your-credit-score/comment-page-1/#comment-49048 Logan Fri, 26 Mar 2010 22:46:40 +0000 http://www.greenpandatreehouse.com/?p=485#comment-49048 I have a question that I haven't found the answer to yet. Say I have no debt right now but were to write a check against a major credit card for $25,000. Now that is a large amount of debt versus my income. If I plan to pay the minimum on that for the first 5 months, then pay it off entirely over the next 7 months, how would that affect my credit score? I've been told that the larger the debt, the bigger the hit on credit score. But if I make all of my payments on time and pay off the debt in 12 months, will I end up with a lower score or higher score? I have a question that I haven’t found the answer to yet. Say I have no debt right now but were to write a check against a major credit card for $25,000. Now that is a large amount of debt versus my income. If I plan to pay the minimum on that for the first 5 months, then pay it off entirely over the next 7 months, how would that affect my credit score? I’ve been told that the larger the debt, the bigger the hit on credit score. But if I make all of my payments on time and pay off the debt in 12 months, will I end up with a lower score or higher score?

]]> By: How to Fix Your Credit Report and Raise Your Score — Green Panda Treehouse http://www.greenpandatreehouse.com/2008/06/how-debt-affects-your-credit-score/comment-page-1/#comment-20194 How to Fix Your Credit Report and Raise Your Score — Green Panda Treehouse Wed, 19 Nov 2008 22:54:24 +0000 http://www.greenpandatreehouse.com/?p=485#comment-20194 [...] The first two were annoying, but the last mistake was dropping my credit score. Your bill payments make up an estimated 35% of your score. [...] [...] The first two were annoying, but the last mistake was dropping my credit score. Your bill payments make up an estimated 35% of your score. [...]

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