BT one card or several...which approach looks better on CR?

[Dw4250]

OK question for you BT gurus...

I am currently running balances to take advantage of several 0% promos.  I got an offer from FIA (Fidelity AMEX) for 0% until June 2016, and am thinking about consolidating all of my balances onto my Fidelity card.  However, it would obviously drive up my UTL on this one card.

So which is better (for scoring purposes as well as overall CR appearance)?  One card with a large balance, or several cards with modest balances (~30% or less)?

Here's a snapshot of what I'm working with for those who are more visual...

Present Cards w/Balances

Chase Freedom    1700/6000  (0% expires  5/15)

AMEX BCE            3500/10500 (0% expires 4/15)

BOA Travel            2000/6000   (expires 4/15)

Chase Slate           1400/4800 (expires 12/15)

Discover IT              800/3400 (expires 12/15)

Citi TYP                   600/2000 (expires 12/15)

My other 10 cards have 0 balance.  Overall UTL is ~ 8%.  My current balance on Fidelity AMEX is 0/15000.

Proposed BT

Fidelity AMEX     10000/15000

15/16 cards would have 0 balance.  Overall UTL would remain ~8%.

I have the cash to pay off everything, but would rather keep that $10,000 "liquid" and just pay it down gradually over the next 18 months.  But at the same time I don't want to draw any red flags by having one card with a very large (67% UTL) balance.

Thoughts?

[Creditaddict]

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@Dw4250 wrote:

OK question for you BT gurus...

I am currently running balances to take advantage of several 0% promos.  I got an offer from FIA (Fidelity AMEX) for 0% until June 2016, and am thinking about consolidating all of my balances onto my Fidelity card.  However, it would obviously drive up my UTL on this one card.

So which is better (for scoring purposes as well as overall CR appearance)?  One card with a large balance, or several cards with modest balances (~30% or less)?

Here's a snapshot of what I'm working with for those who are more visual...

Present Cards w/Balances

Chase Freedom    1700/6000  (0% expires  5/15)

AMEX BCE            3500/10500 (0% expires 4/15)

BOA Travel            2000/6000   (expires 4/15)

Chase Slate           1400/4800 (expires 12/15)

Discover IT              800/3400 (expires 12/15)

Citi TYP                   600/2000 (expires 12/15)

My other 10 cards have 0 balance.  Overall UTL is ~ 8%.  My current balance on Fidelity AMEX is 0/15000.

Proposed BT

Fidelity AMEX     10000/15000

15/16 cards would have 0 balance.  Overall UTL would remain ~8%.

I have the cash to pay off everything, but would rather keep that $10,000 "liquid" and just pay it down gradually over the next 18 months.  But at the same time I don't want to draw any red flags by having one card with a very large (67% UTL) balance.

Thoughts?

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no point in spending the money to do the BT if everything is already 0% and you have the cash to pay them off as the 0% exp and doesn't look like you need to be getting any new credit soon so any score boost is not needed.

[Chris679]

If there is a BT fee then no way. If no fee I would personally rather have one big balance than smaller ones on s bunch of cards. Score wise it may actually be a wash but you would only have one payment to make and to me having balances on a bunch of cards looks risky.

[takeshi74]

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@Dw4250 wrote:

So which is better (for scoring purposes as well as overall CR appearance)?

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Individual and overall utilization always matter and prolonged high utilization can lead to adverse action.

That's with or without BT's.

[Creditaddict]

I think that would be dramatic to think op is in any danger of adverse action.

[MarineVietVet]

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@Dw4250 wrote:

OK question for you BT gurus...

I am currently running balances to take advantage of several 0% promos.  I got an offer from FIA (Fidelity AMEX) for 0% until June 2016, and am thinking about consolidating all of my balances onto my Fidelity card.  However, it would obviously drive up my UTL on this one card.

So which is better (for scoring purposes as well as overall CR appearance)?  One card with a large balance, or several cards with modest balances (~30% or less)?

Here's a snapshot of what I'm working with for those who are more visual...

Present Cards w/Balances

Chase Freedom    1700/6000  (0% expires  5/15)

AMEX BCE            3500/10500 (0% expires 4/15)

BOA Travel            2000/6000   (expires 4/15)

Chase Slate           1400/4800 (expires 12/15)

Discover IT              800/3400 (expires 12/15)

Citi TYP                   600/2000 (expires 12/15)

My other 10 cards have 0 balance.  Overall UTL is ~ 8%.  My current balance on Fidelity AMEX is 0/15000.

Proposed BT

Fidelity AMEX     10000/15000

15/16 cards would have 0 balance.  Overall UTL would remain ~8%.

I have the cash to pay off everything, but would rather keep that $10,000 "liquid" and just pay it down gradually over the next 18 months.  But at the same time I don't want to draw any red flags by having one card with a very large (67% UTL) balance.

Thoughts?

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IMO this would not be a big concern. Yes 67% is pretty high but not a critical level. And the percentage would drop each month which the CCC's would take note of.

Just my 2 cents.