improving credit score

I guess you're still current on the account, then why do you want to settle it? A revolving line of credit would look rather good on your report than settled and closed accounts.

Please help me see if I've missed any point.

yeah i never said i was going to settle it, im going to pay off the balance in full. just wanna know how quickly my credit score will reflect that. thanks

If you were always on time, it's not going to change your score hardly at all to have such a small account paid off. If you were late, then it should take around 6 months after paid up on time to show a higher score.

If you were to pay it off and close it, it would actually likely *lower* your score because the amount of available credit extended to you would be lower.

If you paid it down and kept it open, that would be the best for your score - but then again, if there were any adjustments to be made to your score, it would take around 6 months or more.

In other words, if you were on time and are on time and you have not spent the credit limit, then you are okay.