Balance Transfer, Should I ?

[movinonup]

Hello Everyone:

Ive been reading for a while now and Im trying to improve my Scores, My question is I currently have a 4000 balance on a 5500 Credit Limit, I also have another CC with 0 Bal and a 1500 CL, should I transfer 750 from card 1 to card 2. I have a 0% offer for the first 6 months on BT. I am also in good position to pay 750 per month toward both CC's. Im just trying to get the most mileage out of my Fico Score.

As a side note since finding My Fico, my Fico Scores have gone up over 64 points.

10/07 EQ Fico 561

3/16/18 EQ Fico 625

You guys are great, Thanks for your help, any advise will be appreciated.

By the way, this is my first time posting, hopefully its in the right spot.

[Anonymous]

Hi movinonup! Welcome to the forum! Great score rises in a short period of time too.

IMO you should do that BT asap. That $4k balance is hurting your FICO score big time. The quicker you can get it down below 50% the better!

[movinonup]

Thank you so much for your quick response. I will take your advise

[Anonymous]

movin are there any BT fees? If not, go for it! If so, you might want to consider or look at more closely base your decision on how fast you need improved scores...good luck!

[movinonup]

Thank You Pjriverap, There are no fees whatsoever

[Anonymous]

Depends on whether or not you actually intend to use hte card.  If so, and the transfer is at a special rate, I wouldn't do it.  Any additional charges you pout on  will be paid last and you'll wind up paying interest on the higher rate until you pay the off.

[movinonup]

Thank You Brammy, No I dont foresee using the card until the BT is paid off,

[movinonup]

Good news I think?

Just called Cap 1 ,  I used back door # 8775139959, I received a 500 increase, new CL is 2000, I also transfered 1000 to it from HSBC.

My total available credit is 7700 on all cards          total debt           4000

                                          5500 Hsbc                       4000 down to 3000

                                          2000 Cap 1                           0     up   to 1000

                                          200 Target Guest                  0

Also called HSBC and received apr of 9.99 + prime instead of 14.99 + prime