Need a boost

[carsdepot]

I currently have 5 CCs. A citi platinum select 3000 CL. A cap 1 platinum 500 CL. A regions bank visa (FIA card services) 700CL. An orchard bank 300CL and a new chase freedom 2000CL.

On my credit report, I am showing the cap1 and FIA at around 90% utilization. I transferred these balances to the chase freedom which has 0% apr until 2013.

My utilization was around 76% before adding the chase freedom card, now it's around 50%. Should this boost my score? I'd really like to get up to 650 by January. I'm currently at 603 which is pretty good considering I was at 513 a year ago(thanks to sallie Mae lates).

Do you think adding this chase freedom card and lowering the utilization on the cap 1 and regions card to 0% should boost my score. The only serious lates I have are sallie Mae loans, which makes me sick because I though they were in deferment but that's a story for another day lol.

[Booner72]

Utilization is scored three ways.  Total Utilization, utilization of each account, and how many accounts report balances.  You should see a score boost, and 50% is FAR Better than  90%!  Though 50% is still high.

[Anonymous]

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@carsdepot wrote:
I currently have 5 CCs. A citi platinum select 3000 CL. A cap 1 platinum 500 CL. A regions bank visa (FIA card services) 700CL. An orchard bank 300CL and a new chase freedom 2000CL.

On my credit report, I am showing the cap1 and FIA at around 90% utilization. I transferred these balances to the chase freedom which has 0% apr until 2013.

My utilization was around 76% before adding the chase freedom card, now it's around 50%. Should this boost my score? I'd really like to get up to 650 by January. I'm currently at 603 which is pretty good considering I was at 513 a year ago(thanks to sallie Mae lates).

Do you think adding this chase freedom card and lowering the utilization on the cap 1 and regions card to 0% should boost my score. The only serious lates I have are sallie Mae loans, which makes me sick because I though they were in deferment but that's a story for another day lol.

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It will help since the additional CL lowered your total util.  However, 50% is still pretty high so don't expect a huge increase in your score -- it will take more to get your score to 650. 

Sallie Mae didn't contact you about being late on your payment?  Last year my deferment ended without me knowing but Sallie Mae called me when I was 14 days late paying.  I got a new deferment (long story) and though I had to pay the late fee, there was no negative reported since it hadn't been 30 days yet.

[carsdepot]

Well it was my fault. I moved to Tennessee an got a local cell phone number. I didn't report them to SM. SM finally got in touch with me by mail when i was 60 days late. I extended deferment on my subsidized loans. At the time I didn't know that I had two different SM accounts do those went to 120 days late. I have been current for nearly 2 years since then.