Should I move my Debt around or Just Ask for higher limit to help with credit utilization?

[Anonymous]

Hello Fico users I am New to this forum and I am trying to get my Credit In the 700's . I have a Chase and Citibank Credit Card each with $2000 limti and $1700 each owed on both of them. My overall credit is 17,650 and $4800 of that I owe. Should I apply for credit increase or just transfer a portion of those debts to my other cards to lower my debt utilization on those two cards?

Equifax 686 Transunion 673 Experian 659 ( was 673 but dropped and Im trying to find out why)

No Mortgage  No Auto Loans

[Pway]

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@Anonymous wrote:

Hello Fico users I am New to this forum and I am trying to get my Credit In the 700's . I have a Chase and Citibank Credit Card each with $2000 limti and $1700 each owed on both of them. My overall credit is 17,650 and $4800 of that I owe. Should I apply for credit increase or just transfer a portion of those debts to my other cards to lower my debt utilization on those two cards?

Equifax 686 Transunion 673 Experian 659 ( was 673 but dropped and Im trying to find out why)

No Mortgage  No Auto Loans

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I am not a fan of moving balances around.  However, if it is on a zero interest promotion then I could understand.  On the other hand just pay down the balances on those cards monthly.

[Anonymous]

Thank You for the Advice. I just wanna get in the 700's as soon as possible.

[Pway]

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@Anonymous wrote:

Thank You for the Advice. I just wanna get in the 700's as soon as possible.

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You welcome.  You will get there.

[Anonymous]

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@Anonymous wrote:

Hello Fico users I am New to this forum and I am trying to get my Credit In the 700's . I have a Chase and Citibank Credit Card each with $2000 limti and $1700 each owed on both of them. My overall credit is 17,650 and $4800 of that I owe. Should I apply for credit increase or just transfer a portion of those debts to my other cards to lower my debt utilization on those two cards?

Equifax 686 Transunion 673 Experian 659 ( was 673 but dropped and Im trying to find out why)

No Mortgage  No Auto Loans

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Student loans? Personal loans? If not you can gain some points by getting a small ($500 max) share secured loan from SDFCU.

If the cards are eligible for CLI's you should certainly ask, but the emphasis needs to be on reducing the balances as quickly as possible.

[Anonymous]

• No I don't have any Student Loans I have a small personal loan but it is only reporting with Equifax. any idea on a number of credit cards one should have on average?

[Anonymous]

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@Anonymous wrote:

• No I don't have any Student Loans I have a small personal loan but it is only reporting with Equifax. any idea on a number of credit cards one should have on average?

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Recommended minimum is three for best score growth.

I'd suggest getting a share secured loan of no more than $500 at 36 month terms from SDFCU.

[Anonymous]

ok I will start there, Thank you for the suggestion.