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Credit Card Utilization...

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Andy77
Valued Contributor

Credit Card Utilization...

So, I just got an unsecured personal installment loan to consolidate debt
 
My EQ is 653 currently
 
I am transferring 10k from combined cards to this loan, non of this has showed up on my CR yet though
 
After the transfer the only payments I will have will be 615 a month paying on a 35k car loan 320 a month paying on 10k loan mentioned above
 
Will that make my DTI ration and CC utilization look good?
 
Any suggestions?
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Credit Card Utilization...

depends on how utilized the cc were that the 10k was coming from and how many total account were reporting balances.
 
fico dings installment accounts less and the fewer balances reporting the better.
Message 2 of 4
Andy77
Valued Contributor

Re: Credit Card Utilization...

My credit cards were all at their max
 
4100 balance CL 4100
810 balance CL 800
2100 balance CL 2200
250 balance CL 750
2495 balance CL 2500
Message 3 of 4
Anonymous
Not applicable

Re: Credit Card Utilization...

oh you'll see a pretty good bump then. let us know how much.
Message 4 of 4
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