Home
/
Business
/
You recently paid off one of your credit cards. What will happen to your credit score? Choose 1 answer: A Credit score will go up. B Credit score will go down. C Credit score will not change. C

Question

You recently paid off one of your credit cards.
What will happen to your credit score?
Choose 1 answer:
A Credit score will go up.
B Credit score will go down.
C Credit score will not change. C

You recently paid off one of your credit cards. What will happen to your credit score? Choose 1 answer: A Credit score will go up. B Credit score will go down. C Credit score will not change. C

expert verifiedVerification of experts

Answer

4.3224 Voting
avatar
ElspethVeteran · Tutor for 12 years

Answer

### A. Credit score will go up.

Explain

## Step1: Understanding the Impact of Paying Off Credit Cards<br />### Paying off a credit card can affect your credit score in multiple ways. It can reduce your credit utilization ratio, which is a significant factor in credit score calculations. Lower utilization typically leads to a higher credit score. Additionally, it shows responsible credit behavior, which can positively impact your score.<br />## Step2: Evaluating the Options<br />### Given the positive impact of reducing credit utilization and demonstrating responsible credit behavior, the most likely outcome is an increase in your credit score.
Click to rate:

Hot Questions

More x