Your credit card limit is $5,000, and your current balance is $4,500. Your credit score will increase by 10 points for every $250 decrease in your balance. At the end of the year you have paid down your balance to $2,500. By how many points has your credit score increased?

For every 250 dollars, there is a 10 points increase. 2000 divided by 250 is 8. There are 8 sets of 250 dollars. So, for every 250 dollars (you have 8 of them), 10 points increase. Therefore, you multiply 10 by 8.

10x8 = 80. Your credit score has increased by 80 points.

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ewomazinoade ewomazinoade · Answer 2 · 2021-10-19T12:44:20+02:00

At the end of the year, my credit score would have increased by 80 points.

If my current balance is $4500 and at the end of the year, my balance is $2500. It means that the total decrease in my credit balance is $2000 ($4500 - $2500).

In order to determine the total increase in the number of points, the first step is to determine the amount of 250 that is in 2000. In order to do this, the first step would be to divide 2000 by 250.

2000 / 250 = 8

The second step is to multiply 8 by 10

8 x 10 = 80 points.

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