Scoring Enhancement

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Comments:
: Please tell me which of the scenarios below would most likely result in the greatest improvement to my credit score.

: I currently have four visa cards whose total limits are $15,000.  Currently, I have approximately $11,000 outstanding on the cards (73.3% of available credit).  The cards have the following balances and limits respectively:

: $800/$2,000
: $1,400/$2,500
: $3,900/$5,000 and
: $4,900/$5,500

: I have just received a bonus and plan to pay $5,000 on these cards this month.  The options I am considering are:

: 1. Paying off the two small balances and paying down the two large balances by $1,400 each.  This would leave two cards with zero balances a card with a $2,500 balance (50% of available) and a card with a $3,500 balance (64% of available).  Total outstanding amount in relation to total limit would be 40%.

: 2. Paying down the two large balance cards by $2,100 and $2,900 leaving balances of $1,700 (34% of available on the $5,000 card) and $2,000 (36% of available on the $5,500 card).  Again the total outstanding amount in relation to total limits would be 40%.

: Is it worse to maintain more cards with balances or an individual card with a higher percentage of the available credit used in my situation.

: Please note that because of three 30 day late payments between 12 and 18 months ago and a small collection ($300) 26 months ago I believe I would fall in the "gray" area of credit scores.  In trying to qualify for a mortgage and I am attempting to improve my chances as much as possible.


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