Q&A: What happens to your credit score if you pay off all your debt and never get another credit card?

Question by nickolasname: What happens to your credit score if you pay off all your debt and never get another credit card?
I have a tremendous amount of bad debt. Almost 2000 dollars. If I were to pay it all off to 0 would it raise my score or just keep it from getting lower? I have no intention to EVER EVER EVER have another credit card. my credit score is in the low 500s what will happen if I pay off all debt and do nothing to raise my score?

Best answer:

Answer by Kathy P
It would raise your credit score to pay off your accounts. But don’t close the accounts. Just cut up the cards if you don’t want to use them. Or use them once in a while, and pay it off right away. One of the things they use to figure your score is how long you have had your accounts. So keep the accounts open, as that will help increase your score.

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