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*UPDATE: I paid off the credit card. Thank you all for your wonderful advice. It helped me understand credit a lot more and I really appreciate all of the responses and help! 😊*
Long story short: I have a credit card that has a $2,300 credit limit. It is the highest limit card I have and I was going through a hard time a couple years ago and maxed it out on living expenses. I’m at a pretty good spot right now in life and I have paid off a bunch of my little credit limit cards (they had like $100-$250 credit limits). I now have the means to pay this $2,300 one off, and I just plan on having it open afterwards, but not using it. I have always made the minimum payments on the card, but it still just remains maxed out/nearly maxed out. If I pay the credit card off in full, with ONE payment, will that hurt my credit score? I know having a long payment history sometimes helps you, so I wasn’t entirely too sure if just the one big payment would do more harm than good?
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- 10 months ago
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