If I pay off a credit card that has late in the past, will it help my credit score?

I've been late on this credit card and now I want to buy a house. If i pay it off, will my credit score increase any at all? The credit card is now being paid on time with the last late payment happening about 6 months ago.

Public Comments

1. Lowering balances on revolving accounts generally will improve your score, regardless of the previous payment history. If the account was late more that 3 years ago, the late payment probably is not a major factor in your score. If the late payment is recent, it has much more impact. If the account was severely late and has never recovered (the current status reports as adverse), paying off the account will not help very much. The main factors that affect the score are balance to credit limit ratios, total balances, number of accounts with balances, and payment history. Paying off a balance, as long as it does not mean increasing the balance on another credit card, will improve your score.