Interesting post!
It raises some topics regarding what your goals are, and that, for all consumers,.it is not all just about current FICO score.
With a current FICO score of around 760, you obviously, in spite of your high util, have a strong past payment history.and I would venture to say, no major derogs.
So you appear to be on of the fortunate few who, unless you need to buy a major purchase in the near future through credit, such as a car or a house, your short-term FICO score does not seem to be all-consuming.
Looking at your situation purely from a FICO perspective, if your current score of approx. 760 already reflects your current level of util on your CCS, and you dont let that % util rise, and incur no delinquencies, then your score should remain farily stable A 760 is strong, and should give you the FICO clout you need to secure additional credit if a rainy day should roll in on you. The standard response would be to pay down your % util to improve your FICO score, but I dont sense from your post that immediate FICO score boost is your primary goal.
Turning to the financial aspects of your current situation, with a current revolving debt of $9K, and assuming, to make the calcualtions simple, that your APR on those cards is 12%, that reduces to 1% a month on the balance, or approx. $90 a month in out-of-pocket interest. Money gone, unless your savings is paying over 12% APR return. Making minimum payments each month, the first $90 you pay does not reduce your current principal balance.
Security with having money in the bank is certainly a personal choice. But consider that if the CCs show more strenght by reducing their balance, and thus the risk to the creditor, should a rainy day hit you, you would still have the available CL of those cards to fall back on.
I, personally, would get them down to around 20% util to preserve their strenght. Yeah, less money in the bank, but more strength in your existing credit.
