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Depends on your credit shopping plans. If you have all the credit you need, then not necessarily a problem. If you are wanting to obtain new credit, then it may be one, but at that time you can PIF and upon CR update, you no longer have the FICO issue.
Tweaked FICO is like spit shine shoes. They can be spit shined and in the closet, but what is the practical use? You can't really wear them without messing up the shine. If it's inspection time, spit shine. Otherwise just keep 'em clean and buffed for general day to day use.
@Anonymous wrote:Tweaked FICO is like spit shine shoes. They can be spit shined and in the closet, but what is the practical use? You can't really wear them without messing up the shine. If it's inspection time, spit shine. Otherwise just keep 'em clean and buffed for general day to day use.
Awesome analogy! Right to the heart and "sole" of the matter...
The only party I could think of who might under some circumstances take exception to carrying a high balance like $1,200 of $1,500 on a (as in one) retail card is Chase. (Because they hired a terrible consultant.) Even that would depend on what the rest of the credit picture looked like. If you are well diversified in your credit portfolio and whatever balances you are carrying are < 25% of your overall available credit you should be OK. Yes, you will take a FICO hit for being > 9%, but you have to weigh that against the value of the 0% APR. That is your tradeoff.
I just made a BT to a TL = $2973/$8200 = 36.25%. My overall UTIL is 9%. Am I worried about the higher UTIL on that one account? Not in the least. I made that move to save some money and only one TL has a UTIL like that. The only issuer who might have even the slightest interest is Chase and if they don't like it that's just too bad. It's not as if they have done anything great for me lately. (Or ever, really, except let me hang around.) And by the time I next want to app for credit that 36% will be down to 25% and all will be well.