I'm trying to work on my credit. It's "fair" and I'm hoping to increase it before we get a car next year. I am the co borrower on our mortgage, and only have 1 credit card. That's it! I've made all payments on time, but this card that I've had, my one and only for 10 years only has a 500$ limit, and it has a 400 balance on it. Pretty much always has. I have the money to pay it off, but from what I understand, if I pay it completely off, my credit limit will plummet! So since my only credit card has such a big effect on my credit score, how should I go about paying my card down so it positively affects my score? Thanks in advance
Read more: How to raise credit score by paying off card?
