Transferring balance ?

[Anonymous]

We are looking to transfer our balances of $5720 (16.24 %) and $1444(13.75)  to a lower rate card. If my balance on the new card is high UTIL- how will this affect my FICO? Also- how do cc companies determine your credit limit. I do not even know if we would get a high enough limit to cover the transfer. Any advice would be helpful!

[Niki9]

The way I look at it is

is it better to have the lower intrest rate or the higher FICO score

Right now it is better for the lower intrest rate.  So I looked for card that offered 0% on BT

and transfered my balances to them.  It has helped my score somewhat because I have a new card and therefore more available credit.

check your fico score and then check out cards at whogavemecredit.com and financeglobe.com

as well as looking at this fourm to see what scores get approved for which cards.