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Paid off cards

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Anonymous
Not applicable

Re: Paid off cards


@MyLoFICO wrote:

Got my taxes today and paid them all off except 9% of one of the QuickSilver cards. This is what it looks like now. 

 

Card  |  Bal  | Limit

C1 QS1:                       $0 / $1750                

C1 QS1 #2:                  $180 / $2000               

Barclays Rewards:        $0 / $500                     

WalMart Store Card:      $0 / $4000

Amazon Store Card:      $0 / $4000

Chevron/Texaco:          $0 / $1500                     

Credit Union Visa:          $0 / $500                    

C1 Spark Classic:           $0 / $500 

Paypal Smart Connect    $0 / $800

Lowes:                         $0 / $5000

Discount Tire:                $0 / $500

Kohls:                           $0 / $500

Fingerhut:                     $0 / $400

Target Red Card:           $0 / $300

Old navy                        $0 / $3500

BP Gas Card                   $0 / $2000

 

Yes, I know its alot of store cards. I can't get prime cards yet because of my CS. My question is will this make the best of my current situation as I garden for the next 12 months or should I use these cards? Some of them have never been used and about half of them are new. 


Wow..!!!!!

Do I see 15   0 balances ....Crazy good 

Message 11 of 15
MyLoFICO
Valued Contributor

Re: Paid off cards

Yep and 8 of them are brand new. i confess I was worried but today my scores have started rebounding and coming up and that is before my payoffs hit. Can't wait to see the end result. 


Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18
Message 12 of 15
SouthJamaica
Mega Contributor

Re: Paid off cards


@MyLoFICO wrote:

Got my taxes today and paid them all off except 9% of one of the QuickSilver cards. This is what it looks like now. 

 

Card  |  Bal  | Limit

C1 QS1:                       $0 / $1750                

C1 QS1 #2:                  $180 / $2000               

Barclays Rewards:        $0 / $500                     

WalMart Store Card:      $0 / $4000

Amazon Store Card:      $0 / $4000

Chevron/Texaco:          $0 / $1500                     

Credit Union Visa:          $0 / $500                    

C1 Spark Classic:           $0 / $500 

Paypal Smart Connect    $0 / $800

Lowes:                         $0 / $5000

Discount Tire:                $0 / $500

Kohls:                           $0 / $500

Fingerhut:                     $0 / $400

Target Red Card:           $0 / $300

Old navy                        $0 / $3500

BP Gas Card                   $0 / $2000

 

Yes, I know its alot of store cards. I can't get prime cards yet because of my CS. My question is will this make the best of my current situation as I garden for the next 12 months or should I use these cards? Some of them have never been used and about half of them are new. 


My advice would be (1) use the non-store cards lightly, on an alternating basis, and pay them right off (2) sock drawer the store cards unless you're actually already going to buy something from a particular site for which you have the card or are already planning a trip to their store, in which case you could use one occasionally the same way as the bank cards


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 13 of 15
MyLoFICO
Valued Contributor

Re: Paid off cards

My scores have started to change. The payments are starting to hit. My UTIL is down to 12% per my CR's but in reality they are as stated in my OP. 

 

Starting F8 scores from CCT:

EXP: 639

TU: 663

EQFX: 631

 

Today:

EXP: 653

TU: 694

EQFX: 646

 

I still have about 4 accounts to drop to 0 and I have a few Inq's dropping off too so I will update when they hit. I also disputed some minor stuff on my CR's. 


Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18
Message 14 of 15
Anonymous
Not applicable

Re: Paid off cards

must be nice. Im going to use my tax return to take a huge chucnk out of my chase freedom lol

Message 15 of 15
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