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@candiigraham wrote:Burned2many.........I'm sorry - What is AA? The cards that have no usage, should be closed or buy something for $20 and pay off? what is garden?
AA = Average Age of Accounts
Yes buy something small and wait for bill and pay it off... because not only do you chance them being closed but they will also go inactive on credit report and although report may not factor in correctly and you need all the extra available credit you can while paying down other balances.
garden = no applications... tend to the cards you have to make them the prettiest they can = PAID OFF!
Thanks everyone! Going to start paying of the one with highest interest first - which is the paypal - it has 26.99% APR. The discover & amazon are still at 0% APR for a couple of months. I can have the 3 paid off in 6 months or should I try to pay off sooner?
@candiigraham wrote:Thanks everyone! Going to start paying of the one with highest interest first - which is the paypal - it has 26.99% APR. The discover & amazon are still at 0% APR for a couple of months. I can have the 3 paid off in 6 months or should I try to pay off sooner?
well the answer will always be yes if you can... but if you can set yourself the goal of 6 months and then do it in 5 wouldn't that feel great... don't set it for 3 and need 5 and feel like you failed it and stop working on paying them off... I have done this all to many times myself!
Does "no late payments in the last 6 months" indicate you have lates on your CR prior?
In addition to your high util that would certainly be holding you down.
AA = Adverse action. That's when your cc company sees something, could be anything it doesn't like, could be anywhere in your credit report, not just on your account with them. They could close your card, lower your credit line, etc.
BTW, AAoA = Average age of accounts, which is important, too. But it's AA you need to look out for and your most likely cause of that, as others have said, is having such high utilization on so many cards.
Welcome and good luck!
Yes, I had a late payment in June on two cards. Lost part of income. Gonna shoot to keep on time from now on.