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Hi have the following Credit cards, trying to improve my score. Current EQUIFAX score 660
BOA 10000/10500
Discover 2184/2500
HSBC 1980/2600
Bestbuy 546/1800
Chase 0/1700
CapOne 0/2000
Amex 0/500
Citi 0/8000 (just applied and recieved)
Citi 0/4000 (just applied and recieved)
BOA AU 0/1000 ( wife's)
Discover AU 1500/9400 (wife's)
Citi Closed 4744/7800
Amex Closed 6299/9600
Any help would be apprecitated!!! thanks in advance.
FICO scores both overall % util, and the combined effect of the % util on each individ revolving acct.
The high individ utils, even though balanced to some degree in overall % util by low or zero balances on other accounts, are having a significant adverse effect in your scoring of individ acct utils.
The effect of a high util individ account is pronounced if it is also one of your higher CL accounts, as it has proportionally more impact in your separate overall % util.
In short, the BOA account is your biggest negative, followed by the Discover. Get them under at least 50% util.
so if i balance transfer over to my two Cit bank credit cards 8000 and 4000 Credit limit a total of 8000/2 = 4000 and 4000/2=2000, 6000 would that help? but it increases accounts with balances. how much does it impact?