 TITLE: Should I Pay Off My Credit Card Debt Immediately or Over Time? CONTENT: Does Paying Off Credit Cards Slowly Help My Credit Score?\n---------------------------------------------------------\nIt's an oft-repeated credit myth that carrying a credit card balance helps your credit scores. In reality, high balances on revolving credit accounts can mean high credit utilization, which can hurt your credit standing.\nYour credit utilization ratio is a comparison of your credit card balance to your total credit limit, expressed as a percentage. It's the second most important factor in your credit score calculation, making up 30% of your FICO® Score☉ . To calculate it, divide your total credit card balances by your total credit card limits. The lower the ratio is, the better for your credit health. Keep it under 30% to avoid hurting your scores; experts suggest keeping it under 7% for the best scores.\nThe effect credit utilization has on your credit scores is a strong argument for paying off your credit card balances every month—but it's not the only one. Carrying a balance can cost you heavily in interest. END