® 
On average, one can see a rise of 8-12 points in credit score by paying off outstanding credit card dues. However, the rise and rate of rising in credit score depends on how long the dues have been outstanding and one’s overall repayment track record. The lower the dues and timelines, the better the chances of an immediate rise in credit score. For longer and larger dues, it may take a long to bring up the credit score points.
Can lowering my credit utilisation raise my score?
When you pay down their debt owed towards a credit card, your credit utilisation rate (CUR) drops. Credit utilisation rate, also known as the debt-to-credit ratio, is a measure of how much credit one uses compared to how much credit is available.
The level at which your utilisation rate drops depends on how much of your credit card debt is being paid off. The lower the utilisation rate, the better will be your credit score. As a cardholder, your goal is to aim for a high credit limit and low credit utilisation. Experts recommend maintaining a credit utilisation below 30% to get the best credit score.
Why is your credit score important?
In today’s world, money is needed to make money. With many banks and lending institutions opening up in the country, one can get money easily and at any time. However, since there is risk involved in lending, almost all financial institutions rely on certain criteria to estimate the repayment capability of an individual. A credit score is one of the most important determinants of an individual’s creditworthiness while availing of a loan. This makes it critical for all borrowers to maintain good credit scores.