Hello all,
My question is...I have 2 CC both maxed out at 10k each from NFCU. I have a 10k loan with much lower interest rate to use towards paying these cards. Do I pay 1 off in full or should I pay 5k on each. What is the best action to take for credit scoring. Thanks in advance.
Dave
Pay off the higher interest one completely. Then throw everything you've got towards the lower interest one from now on. To be honest though, right now I'd worry more about paying off your balances rather than your score. Your score will recover once you pay down your debt.
interest is the same on both cards.....So i guess my question is do i have 1 card at 0 UTI and other about 99 or both at 48 UTI?
In that case lower both down then. I think the score hit for one maxed out card is way worse than the score hit for two cards at around 50%.
@dledo wrote:interest is the same on both cards.....So i guess my question is do i have 1 card at 0 UTI and other about 99 or both at 48 UTI?
Yes one card at 99 UTI and one at 0..or both at 48 percent UTI