Which move is better for my score?

[Gidgetmom]

Requesting advice and knowledge from the rebuilding community:  My question is...which move is better for my score in March?  

Current scores are EQ 632 TU 671 EX 670 (January report myFICO).  My scores will show some improvement by the end of February, as the Credit One card will have dropped from 45% to below 30%.  I expect a few point increase for that. 

 I am working on a debt avalanche payoff and will be paying off the Credit One and Quick1 in March (highest interest cards).  Will have all cards paid off by October of this year.  Below I've listed what will be final reporting for February.  It has been pointed out that I need to get my Chase SWRR paid down as quickly as possible to prevent scaring them into adverse action.  By April, I will have the Chase card down to 56% reporting and hitting it hard until it's paid off in September.

I would like to transfer my credit line from my Quick1 MC to my Quick Visa to help with util and close the subprime card.  I believe that's possible...help me out if you know it's not, please.  Not sure about MC to Visa CL transfers.  Transferring the CL would drop my util on the Quick to 63% in March versus reporting at 83%.

Is it better for March to report  4 cards report 0% with Quick at 83% and Chase at 78% and an overall of 58%?  OR, close Q1, transfer CL, and have 3 cards reporting 0 with Quick at 63% and Chase at 78% and the same overall of 58%?  Basically, will I get more points for one extra card at 0% OR will I get more points for crossing 70% "threshold" on one card?  Seems like either way, will have more cards at 0%  than with a balance...4/2 vs. 3/2.

If I close the Quick1, I would then apply for another prime card once scores and file support it and close the Credit One also.  I would like to have a file of prime cards, eventually!  Thoughts, ideas, or suggestions for which card are welcome (not typically a heavy card user...$500 or so a month..balances are high cuz I used my cards for my daughter's wedding) I thought about another Quicksilver, because Cap1 seems pretty easy to get and I have established an excellent payment record with them.  Really only getting another card to drop overall utilization even further.  3 prime cards will be a perfect fit for me.

Im concentrating on maximizing score points each month, while paying it all off.   Why not have the best of both worlds?

Background:

Reporting For February 2017:  Overall Util: 66%

Comenity store card: 500/0   (CL / BAL). 0% util

Comeniy Store card:  500/0. 0% util

Credit One:  650/182 28% util. (Down from 45% in Jan)

Quick1:  1550/388. 26% util (Up from 22% in Jan)

Quick:  5000/4326 87% util (Down from 90%)

Chase:  3000/2460 82% util (Down from 87%)

i would appreciate all advice, thoughts and ideas!!  Thank you, in advance, for taking the time to read and respond!

[Anonymous]

A couple of things here.

First, there has long since been a debate about what is the "better" move in terms of having fewer cards with zero balances but lower overall utilization amounts verses having more cards with zero balances with the remaining cards showing higher utilization amounts.  Honestly, the difference in either case in most situations is negligible, so I wouldn't stress much about it.  Since your goal is to pay off your cards and to do so with paying the least amount of interest, I suggest just paying off your highest interest cards first.  You do have two cards with low balances, so paying those off would give you two more cards without balances which could be a good thing as well. 

Second, I would call all of your creditors and ask for APR reductions.  The worst you get is a no, the best you get is a lower rate which saves you money.

Third, you mentioned getting another card to drop utilization further.  I strongly recommend not doing this.  The only time I would recommend this approach is when someone has less than 3 revolvers.  You have plenty and just need to pay down what you have.  Adding another account will add an inquiry, add a "new account" and lower your AAoA.  These factors combined will drop your score for 4-6 months generally speaking and that drop could counter any gain you receive from paying down balances which could be discouraging to you while watching your scores.

A final piece of advice is to not worry about your scores so much.  I get it, that can be tough.  You don't have any immediate need to apply for credit any time in the relative near future... so your scores really don't matter at the present time.  Naturally you want them as high as possible, but sweating over 5-10 points here or there in the grand scheme of things doesn't matter.  Keep hammering away at your balances and your scores will do their thing by the fall when you plan to be debt-free.

[Gidgetmom]

First of all thank you for replying to post BBS.  I have read MANY of your posts and respect your opinions!  

Something I failed failed to mention...DH and I would like to purchase a new truck this year.  His profile and scores will be in perfect condition by May/June (his new target date) to purchase.

i would really like to get rid of Credit 1 and move credit line off QS1 to the QS before the truck hits my report.  I'm just trying to maximize my efforts each month based on the amount I can apply towards the balances.

Maybe I'm just overthinking it all...I have been accused of that before. Lol

My goals:

Replace credit one with a better card.

decrease utilization on high balance cards as rapidly as possible, and

maximize my score each month 

buy a new truck

DH would like this to happen by May/June.  I think I can, I think I can, I think I can....