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Payments to credit cards

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mrsbatch
Established Member

Re: Payments to credit cards

Thanks so much,,  i understand now

 

I appreciate the clarification very much

Message 11 of 18
mrsbatch
Established Member

Re: Payments to credit cards

right now they are as follows

 

1. 1400   this card  2,000 total credit so i have 600 left

1. 1200   this card  same as above - have 800 left

1. 300     this card max is 500  so i have 200 left

1.  250    this card max is 500 so i have 250 left

Message 12 of 18
kjm79
Valued Contributor

Re: Payments to credit cards


@mrsbatch wrote:

right now they are as follows

 

1. 1400   this card  2,000 total credit so i have 600 left = 70% util (63% util if extra $150 applied here)

1. 1200   this card  same as above - have 800 left = 60% util (53% util if extra $150 applied here)

1. 300     this card max is 500  so i have 200 left = 60% util - after pay off will be 0%

1.  250    this card max is 500 so i have 250 left = 50% util - after pay off will be 0%


If these are all your open revolving accounts your current overall util is 63% (3150/5000).  If you pay off the two small ones and then throw the other $150 to one of the other cards your overall util will be approx 49% and you'll have two less cards reporting balances.  I'd pesonally throw the remaining $150 to the card with the highest interest rate since both would still be over 50% util after applying the $150. 


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 13 of 18
mrsbatch
Established Member

Re: Payments to credit cards

great info!!!   that is what i will do...someone told me once its best to show a small balance on them to show I can manage monthly payments.

 

these are all of my cards

 

 

Thanks again so much confusing mis info  out there on how to raise your score  mine is  675   not terrible  but i want it  higher

Message 14 of 18
kjm79
Valued Contributor

Re: Payments to credit cards


@mrsbatch wrote:

great info!!!   that is what i will do...someone told me once its best to show a small balance on them to show I can manage monthly payments.

 

these are all of my cards

 

 

Thanks again so much confusing mis info  out there on how to raise your score  mine is  675   not terrible  but i want it  higher


You're welcome!  And it is best to show a small balance on your card.  But that advice applies to all other cards being zero and then ONE showing a small balance. 


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 15 of 18
mrsbatch
Established Member

Re: Payments to credit cards

Only  ONE     with small balance.... got it.....

very tough in todays economy

 

thanks again

Message 16 of 18
Anonymous
Not applicable

Re: Payments to credit cards

I love threads like this it always seems like everyone is so eager to help and super patient.  Can't wait to hear later on down the road how everything is going once a few months pass I'm sure your score will jump significantly if you keep paying those other two off!

Message 17 of 18
mrsbatch
Established Member

Re: Payments to credit cards

Good Day

 

I agree!!  Thanks so much have a great weekend

Message 18 of 18
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