I have a credit card with a balance of $6,000. I can pay this off immediately, or would it raise my credit score to pay off in three installmaents of say, $2000?

Paying it in intallments will you give you credit history.

I found a new friend, when can we go shopping?? lol. j/k

For purposes of your credit score, it would probably be best to pay it off in installments. Or, in fact, it might be best to pay it down to about 1/3 of the credit limit and keep it there.

Your FICO score is strongly influence by the amount of credit you have *available* to you. So, if you have credit cards with a total combined credit limit of, say $30,000, but no balance on any of them, that's $30k of debt you can get into.

This would worry another lender, who would be concerned that if you used all those credit cars, you'd get into so much debt you wouldn't be able to pay back other obligations (e.g. a car loan).

Here are some other tips on how to best manage your credit score:

http://www.followsteph.com/News/Increase_Credit_Score.html

3 monthly you are rated on managing credit this builds pay history and shows good skills in managing and paying your bills

I would say do not pay it in full at one shot. Pay in installments. It gives a history. Also you can use 0% credi cards come your way and pay it off over a year or so. I use them all the time. It helps.

What's your credit limit? I'd pay it in full (and on time) to avoid finance/interest charges. The $6,000 will still be reported, but your card will show "paid as agreed" data points on your credit report when you pull it. It doesn't matter if you make the minimum payment or pay off in full. The card reports whatever your current balance is to the credit bureaus. Utilization (balance-to-limit ratio) comprises 30% of your FICO score and is best to be underneath 10%, regardless of what other people say. If you don't believe me, check out what the folks at Fair Isaac & Company have to say. http://www.myfico.com will give you some FICO basics, but the forums get into more specific discussions.

It is better to pay it off quickly, due to the fact that you will not gain anymore interest, and because it is better to carry a low balance or no balance on a credit card than to carry a higher balance and make regular payments. It will still look good to pay it off in 3 months but the timely fashion in which the credit is paid is not as important as carrying a low balance, especially if the card is newer.

If you have the $, pay it now. Don't worry to much about that rating. Everybody wants to lend you money these days.

You should not base financial decisions on the potential effect of your FICO...

It is never wise to carry a balance on a credit card if you can pay it off. The financial damage of the excessive interest far outweighs the minor tick of your FICO score, based on the two choices.

Let your FICO follow your financial activity, not lead it. Overtime, you'll be better served.

If you can, pay the balance down at once. Not only does it save you money, but roughly 30-35% of your credit rating is based on your debt to credit ratio. The closer to your limit the debt is, the lower your score.

Making periodic purchases and paying the balance in full each month is the best way to establish a long, successful credit history.

I'm not to sure, but I think The quicker you pay it off the better you are, plus if you pay it off in 3 payments more intrest will be added to the balance.