05-28-2008 02:27 PM - edited 05-28-2008 02:42 PM
05-28-2008 02:31 PM
Yes your overall util is 35%, but FICO scoring has another util calculation for each revolving account...individual util. So, you are probably going to take a hit for your USAir card reporting 86% util.
Hi all,Here's my upcoming C/C balances. Should hit the CRAs by mid June.C/C Name Current Bal Credit LineUSAIR Visa $6000 $ 7000WAMU $ 0 $ 8000SamclubDiscv $2700 $ 6500NFCU MC $5000 $15000Barcl Vusa $200 $ 3000------------ -------------$13,900 $ 39,500Would my util be @ 35% , Is that Correct? Due C/Cs with 0$ balance help utils?Thanks all!
Message Edited by JoeG on 05-28-2008 02:27 PM
05-28-2008 02:35 PM
05-28-2008 02:37 PM
What's your goal, better scores or eliminating your CC debt?
it seems that it would pay to establish a new c/c account, transfer 3k or 4k to a new account (with a CLI of 8k-10k, higher the credit limit the better) and recalculate? Am I correct in thinking so?Thanks...
05-28-2008 02:39 PM - edited 05-28-2008 02:40 PM
05-28-2008 02:41 PM
JoeG wrote:Always reducing debt. But I do have some "standby" cards that can be used to transfer a balance or two and possibly get a better APR. But if possible, I would opt to paydown debt whenever I can. I have over $60k in C/C debt (not all under my name). It's not going to be pretty.
Message Edited by JoeG on 05-28-2008 02:40 PM