Advice needed for balance transfer(s)

[Anonymous]

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@kshew97 wrote:

My rate on the NFCU card would be better than all of the others, just wasn't keen on putting a big balance on one card, especially a new card. Originally I though about transferring Barclays and Discover, and knocking down the others one at a time.The Target and Kohls are easy, the Sears and JCPenney can be done after my tax refund comes in. Didn't know if util would look better spread out, or just one TL with an open balance.

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Forget the scores for a second. You have bigger things to worry about.

You just said you don't think you can pay those balances in full before 12 months, which means this is going to take you a while.

I'd just roll everything into the NFCU. I'd rather pay down one balance SANS interest than pay 5 different balances that keep compounding.

Sometimes you have to just forget credit scores and go with what saves you money first.

Your outlook (and score) will be much more positive in a year than it is right now.

[kshew97]

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@Anonymous wrote:

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@kshew97 wrote:

My rate on the NFCU card would be better than all of the others, just wasn't keen on putting a big balance on one card, especially a new card. Originally I though about transferring Barclays and Discover, and knocking down the others one at a time.The Target and Kohls are easy, the Sears and JCPenney can be done after my tax refund comes in. Didn't know if util would look better spread out, or just one TL with an open balance.

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Forget the scores for a second. You have bigger things to worry about.

You just said you don't think you can pay those balances in full before 12 months, which means this is going to take you a while.

I'd just roll everything into the NFCU. I'd rather pay down one balance SANS interest than pay 5 different balances that keep compounding.

Sometimes you have to just forget credit scores and go with what saves you money first.

Your outlook (and score) will be much more positive in a year than it is right now.

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YEP !!

I just spoke with the wife, we took all of our minimum payments, added them up and at zero % we will in fact be able to pay everything off in 12 months or less!

WOOHOO !!

Thanks everyone for your opinions, I really do appreciate it!

[nc]

I wish luck to you..

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YEP !!

I just spoke with the wife, we took all of our minimum payments, added them up and at zero % we will in fact be able to pay everything off in 12 months or less!

WOOHOO !!

Thanks everyone for your opinions, I really do appreciate it!

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[RyVision]

kshew97

MAJOR CONGRATS ON THE FANTASTIC CARD AND CL !!!!!    Welcome to the NFCU family!

Remember though, NFCU applies payments to lowest interest first, so don't use the card for any purchases etc

(just in case you didn't know and something comes up etc).

[Anonymous]

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@kshew97 wrote:

Here are my cards, balances, and limits...

Barclays Rewards $2200/$2500

Discover $750/$1000

Target $424/$500

JCPenney $1300/$3800

Kohl's $250/$300

Sears $450/$1000

Just got my new NFCU card yesterday, $25K limit, zero interest balance transfer for 12 months. Unless I hit the lottery, I will not be paying everything down in the next 12 months, and with the new NFCU card, mu util goes WAY down. Question is, which cards do I "tweak" the balances on in order to maximize the bump to my score?

Before you say it, I know my util is very high prior to getting the NFCU card, but some of these are the wife's, and all of them are now in the sock drawer to stay.

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If you can, I recommend just paying off those itsy cards and then transferring the rest. Then if you pay $360 a month on the NFCU card for 12 months, you'd be debt free.

edit- Just saw your post prior. Glad to hear that you can pay it all off in 12 months!  Good for you =)