Noah, need help once again please!

[Anonymous]

I'm adding two accounts to my already overburdened debts LOL.  Which is the best way to get all of these accounts at 50% util?  I have added two Capital One accounts to help family:

Here are the stats:

Accounts        Credit Limit          Int Rate           Balance

Blue Cash       10,600                  2.99                3,502.99     til paid

Blue Amex       15,000                  4.99                6,987.25     til paid

BOA                11,100                  -0-                  5,557.00      til 10/11/07

cap1                3,031                  5.99                  1,545.00

cap1               1,600                   -0-  to               1,234.00    til 9/08

CitiDiam           8,000                -0- for life            6,667.47

CitiDiv            4,000                    6.9                    2,300.00    til 11/07

CitiSimp         6,300                   6.9                    2,779. 35     til 12/07

hsbc              15,000                 7.99 fixed           -0-

Wamu             8,000                  -0-                    1,897.46      til 1/08

Thanks for the help from everyone.    FICO scores TU - 703,  EQ - 715  Exp 722

SandyK

[Anonymous]

BTW, I use only the hsbc account for purchases and PIF as soon as it generates their website. 

[Anonymous]

What's hurting you most is that CitiDiamond account...you're at 83% utilization there, which is no doubt raising the hackles on the neck of the FICO beast. What credit limits are your CapOne accounts actually reporting? If they are reporting substantially under the true limit, they could be doing you even more damage. If those balances are the maximum usage being reported, they're making you look like you're maxed out.

The lowest priority to pay off is Wamu...at under 25% utilization and 0% interest, just pay the minimum each month and focus on the others.

[Anonymous]

You're correct about the CitiDiamond Card.  I am contemplating paying off the two Citicards at 6.9% and reallocating $3500 of the CitiDividend Card to CitiDiamond.  The $6300.00 Citi I would keep at a zero balance to use once it is time to balance transfer BOA in October, 2007.   I'm going to pay off Wamu.  They have nothing to offer me really.  I have all that available credit and they don't make balance transfers available beyond the first signing.  Atleast not to me they haven't. 

The Cap1s have a higher credit limit....$3,500 and $1,600.  I just reported what the high limits are. 

It's a lot of debt and I make no excuse for it but to get on the ball and alleviate the problem.  No blaming, no feeling sorry for myself, etc.  LOL.  Just seeking advice from people who want to give constructive advice.

SandyK

[Anonymous]

CitiDiam BT From $2827
cap1 BT From $466
CitiDiv BT From $380
BOA BT From $228
cap1 BT From $90
Blue Amex BT To $215
CitiSimp BT To $246
Blue Cash BT To $1587
Wamu BT To $1944

[Anonymous]

If you can get everything under 50% util, I would click the LUV button on your AMEX cards to get your CLs up as much as possible.

Once everything reports as under 50% on all 3 CRs, then I would apply for several AMEX cards. Clear, Blue Sky and Optima at least. Do it all same day so at most you get one INQ per CRA. More 0% APR cards means you can further lower your util and get more debt onto 0% APR cards.

[Anonymous]

Noah,

Thanks for the homework assignment! 

Your help is greatly appreciated.  Now to print this out and get out my thinking cap. 

SandyK