Hey all -- so I have an extra $5500 cash to put towards CC balances. I have $130k in total credit, about $15,000 in CC debt, mostly on 0% APR cards for home renovations -- some are about to expire and go up to 16-20% APRs. Here's my question -- best way to pay down the below for MAX SCORE Bump:
Amex: $2,322 / $7,700 (Intro Offer) -- 30% UTIL
USAA Rewards: $5,055 / $7,000 (No 0% APR, 16% APR) -- 74% UTIL
Cap1 V1: $3,000 / $6,000 (0% APR offer) -- 50% UTIL
Chase VISA Sig: $4,990 / $7500 -- 66% UTIL
Now before the question is even asked -- I have MANY Cards at $0 balance, and a few with under 15% UTIL. So, is it best to take the $5500 and pay down one of the higher balance cards in full to bring it to $0, or blanket the payments across the above 4 cards to bring down each balance by a certain % for now? I think the 66% and 74% Util are hurting the most, so I'm unsure what my best course of action here is. My EQ seems toi be affected the most by UTIL spikes or UTIL in general -- my EQ score is 40 pts lower than the other 2 and always has been considerably lower: EXP 688 TU 686 EQ 648.
Any contructive advice is welcome here in terms of best course of action for the above to maximize score bump for UTIL paydown. Thank you !! 