Hello all, I am trying to get my score back up. And need to know what would be the best way to do it.
Here are my cc balances.
Mcys- Bal-$530/ CL-$1,100
Khls - Bal-$143/CL-$300
Would it be best to bring the utilization down to 10% for all the cards except the NFCU.
Our should I put all money toward paying down the NFCU card.
I figured if I paid all the others down then I would only have 1 cc bill.
What would be the best situaiton to see an increase in my credit score?
Thanks for your help.
Hi Pushingfor 700!
If high utilization is the only thing holding your scores down, then getting your utilization down to somewhere between 1 and 9%, with less than half of your cards reporting a balance (ideally only one) should give you a significant boost. Currently, your overall utilization is at 75.69%. Three of those cards are maxed out at over 90%-- that's hurting you a LOT.
How much money do you have available to reduce these balances? Do you have a lump sum that your were planning to use in your debt reduction? Are you inquiring as to how best to snowball the debt?
Friendly, Supportive & Respectful
"However gradual may be the growth of confidence, that of credit requires still more time to arrive at maturity” ~ Benjamin Disraeli