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Regular Contributor
keithc
Posts: 167
Registered: ‎05-22-2007
0

balance trns. questionn

i did 2 bal. trans. on 2 cc but i maxed out the bt card but p/o 2 cards. how is this going to help my scores????
Established Contributor
jaybird201
Posts: 672
Registered: ‎07-05-2008
0

Re: balance trns. questionn

I don't think you'll see a significant change since your utilization is staying the same...

 

I'd wait for a mod to give you a more definite answer though. They're the authority on this sort of thing.

Established Contributor
VEEnVEGAS
Posts: 645
Registered: ‎10-24-2007
0

Re: balance trns. questionn

If you did these BTs onto a new card then your utilization will have improved just by the fact that your new card supplied more available credit but your CC debt remained the same. That can improve your score if you didn't take too big of a score hit by the new card lowering your AAoA plus the few points for an inquiry.

 

Important thing is it saved you money if you used a 0% BT offer! That's better than points! 

Regular Contributor
keithc
Posts: 167
Registered: ‎05-22-2007
0

Re: balance trns. questionn

what does mod mean?? what does aa of a mean?
Moderator Emeritus
WhirledPeasPlease
Posts: 3,418
Registered: ‎12-27-2007
0

Re: balance trns. questionn

Mod = Moderator

AAoA = Average Age of Accounts

 

IMO, maxing out one card is worse than having two w/ balances (at least two w/ less than 30% util).  It depends on what your goals are -- good score or save money, aka, Fico sense vs fiscal sense.  You decide.

 

:smileywink:

 

~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.

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