Is there a tool that can be used to simulate credit card payments?

Trying to raise my credit score should I pay my credit card off or make payments, or?

• I have a credit card with U.S. Bank. It's a limit of up to $500. It's not a secured credit card. I haven't had a job as I have severe back problems and I am unable to work, and receive disability. I normally use some and make payments and in 2-3 months pay it off. I bought some stuff, and had it up to about $212 ish which I think is the highest I have ever had it. I want to build my credit up and hopefully buy a house. Not very expensive about 30k ish. I used credit karma.com and they said my credit score was about 713 and if I payed it off it would go up to about 728. I read about them on yahoo answers and asked a question and it turns out that they said that it is a guess of what your credit score is. So I don't know how accurate credit karma .com is. On 04/02/2012 I made a payment of $50 and on 04/20/2012 I made a payment of $55. Normally they want $30 so I made payments of $20 and $25 more then they asked for. Right now my balance is about $107. It says Next Payment Date 05/09/2012 Minimum Payment Due $0.00 ( It is normally due on the 9th of each month. ) I have the money to pay it off, I just want to raise my credit score as much as much as possible. So should I pay it off this month, or make a payment or what should I do? Like I said I really want to raise my credit score. If my credit score was 728 ish is that a good credit score, or? I take around $715 from disability a month that is minus -$98 dollars for my medicare. So would you say I make $715, or $815? Would I be able to buy a house making this much and with a credit score of that? Like I said I want a house that is about $30k-40k at the most. I want to put about $500 or so down. If it matters I am 20, and live in Clark County Nevada. Thanks for your help.

• Answer:

  You will not qualify for a home on your income. At most, you could afford an apartment for $203 a month. - Pay credit cards in full each month. For best credit, never carry balances. It is a myth that carrying balances is good for you. It actually can cause serious damage. - To get a house, you will need to be employed for 2 solid years with tax returns to back up your income. - Don't worry about your credit score for now. It's a minor part of qualifying for your home. They will focus more on your income and ability to pay vs. your debt. - Banks do not make mortgages for amounts of less than 50K. I have checked this out at plenty of major banks. You would have to make a regular loan, which is extremely hard to get. - You will need 3.5% down ($1,400), plus closing costs, and some insurance and taxes upfront. A bank may also want to see 3 months of living expenses in emergency savings.