Trying to help a family member who only has three cards and has $12,579 total debt across the three. Scores:746 TU Fico08, Van3 from Cap1 735 on 10/19. Only scores we had at the moment.
Aggregate utility was almost 60%.
Indiv. utility:
Freedom 44.31% - Interest Rate = 23.24
Disco 71.37% - Interest Rate = 23.99
Cap1 48.13% - Interest Rate = 18.15
Hate applying when utility so high, but it had to be done. Looked into personal loans and thought this would be less expensive for him. Have been trying to snowball the int fees are ridiculous, to say the least!
Citi Simplicity 24 MO BT Offer - APVD $8,800 - (12 MO for purchases, but WON'T be using that option!) - 17.99 after BT expires
Chase Slate 15 MO BT Offer - APVD $3,600 - (can't remember rate thereafter, think it was like 21.99) - Just wanted the no fee. Got more than I thought he would, really. Waiting to get the cards to do the BT's. In the meantime, I've already made his monthly payments for November.
Plan on BT'ing 5766 for a fee of $172 from Disco to Simplicity. Will be at 65% on Simplicity and -0- bal on Disco. Will BT $2,700 from Cap1 to Slate. Cap1 will be @ 18.39 untility and slate @ 75%. High I know; but he will be able to knock those down quickly. Freedom (top) will be paid off first, of course.
| Rem Balance | Limit | Used before PMT | Currently % Used | Interest Rate |
| 1,149.55 | 4,000.00 | 28.74% | 28.74% | 23.24% |
| 0.00 | 8,500.00 | 67.84% | 0.00% | 23.99% |
| 1,792.80 | 9,750.00 | 46.08% | 18.39% | 18.15% |
| 5,766.17 | 8,800.00 | 65.52% | 65.52% | 0.00% |
| 2,700.00 | 3,600.00 | 75.00% | 75.00% | 0.00% |
| 8,708.52 | 34,650.00 | 49.57% | 25.13% |
EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843Forgot to add: no inquires in over 24 months and no baddies on any cb.
Nice job helping family member. Pretty great score for such high util, that might account for why their new cc limits were better than you thought. Can i have your scores
I know--I was floored by his score with such high utility on all cc's! I couldn't get away this that!
My scores took awhile to get that way. I have a balance I've been carrying with zero promo. I just paid off a good chunk and I'm still waiting on updated score. I'm going for the Tom Thumb scores! lol