Credit Card Center Advertiser Disclosure†
10-28-2013 09:58 PM
Hey folks, need some advice:
I am about to get a bonus at work and need to decide whether to pay off a balance on my AMEX Sign and Travel (revolver balance I have been carrying from a trip last year) or should I payoff a balance on my Citi card. My gut tells me to payoff the Citi since the AMEX revolver balance seems to have not affected my score. Am I way off base?
(BTW, the Citi and AMEX revolver have the same APR, so the decision really comes down to which will help my score)
10-28-2013 10:00 PM
10-28-2013 10:14 PM
Thanks for the quick reply!
The Citi has a balance of $5200 and CL of $9k. I don't use it regularly.
As for the AMEX, I use it all the time and pay in full new monthly charges (about $1500/mo) and have been chipping away at the revolver all year. Balance on it is about $4100. (no CL since it is AMEX)
I noticed when I made the charges on my Citi last year I got a CW alert for balance increase and my score went down a point or two. On the other hand, all of the charges on my AMEX revolver never once caused a SW alert...
10-28-2013 11:06 PM
10-29-2013 12:40 AM - edited 10-29-2013 12:42 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.