I hear ya on the Infiniti, and also on letting the Chase balance ride, but I'd pay off Chase and get the Visa down below 50% first.
Those comments about high revolving util and high balances indicate that you probably won't qualify for the best auto loan rate, because your scores could be higher if you could continue to throw money at those cards. You'll enjoy your new ride more if it's costing you less.
The "high balances" comment might disappear with the loan payoffs, but the 'heavy use" one won't, because that's referring to your CC's. OK, wait, that might also include the line of credit, if it reported as revolving, which it should.
Those comments about high revolving util and high balances indicate that you probably won't qualify for the best auto loan rate, because your scores could be higher if you could continue to throw money at those cards. You'll enjoy your new ride more if it's costing you less.
The "high balances" comment might disappear with the loan payoffs, but the 'heavy use" one won't, because that's referring to your CC's. OK, wait, that might also include the line of credit, if it reported as revolving, which it should.
First, good for you paying off the 2 accounts - a step in the right direction for sure!
However, you are still looking at $12,200 in debt. And you said you have $2,000 coming in...but you are planning on taking a trip for $1,250 soon.
So what I would suggest:
1) use $1,250 of the money coming in for the trip - don't charge any of it
2) use $600 of it to pay off the Chase..I know it's a low interest rate, but still, why hold on to it...plus it'll free up the minimum payment to use elsewhere.
3) stash the remaining $150 in a baby emergency fund...if you are charging so much, you'll need to start a EF...if you do have one already, put the $150 on the Visa, since it has the highest interest rate
4) DO NOT buy another car until the first loan is paid off AND you have at LEAST 5% that you can put down on the car...I know it would be so sweet to get a new Infiniti G37, but it would cost you a lot more than you think, since you have so much other debt.
Here's my other suggestion as to how to conqur the rest of the debt:
With Chase paid off...apply minimum you were paying on that to Visa in addition to whatever you pay now. Try to find enough in your budget to start saving for that new car/next trip/emergency...you need to save for these things, not charge them.
When the car loan is paid off in Sept, put that $525 a month on the Visa in addition to the chase and current payment...that should be around $650/mo on the visa now, I think? Thus it should be paid in March, 2011...then, take all that and put it on the rest of the Military Store card and pay that off...thus, by July, 2011 you should be debt free! Take two months to build up that 5% down payment (you should have almost $700 a month freed up now) and buy yourself that new or slightly used Infiniti around Sept. 2011 knowing it's your only debt. And remain credit card debt free!
Sorry for the long post, but I really think it's important for you to think long term about how to get rid of all your debt and not add a ton more.
good luck with whatever you decide.
Starting Score: 799