How to best apply lump sum pmt to CC

[HeavenOhio]

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@extra300 wrote:

Thank you everyone for all the quick replies and advice. @HeavenOhio are you saying that using the snowball method paying the lowest balance off first completely and leaving the other one where it is would give me better odds not to be balanced chased? Because that is something I am hoping to avoid.

Thanks again

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Welcome, @extra300.

I'm suggesting that you follow the advice given by the majority in this thread. Pay the cards down relatively equally. That way, both cards will have utilization well under 50% and neither will be nearly maxed.

[Anonymous]

^^^ agreed. Balance chasing is something that, once a lender decides to do it, you're pretty much at their mercy. They can chase you down to a CL they're comfortable with, or to zero and close your account, and really you're just along for the ride. It's one of the dangers of letting utilization get too high. Hopefully by paying both cards down to the levels we've mentioned above, you'll ease any nerves either lender may have from seeing the high balance both on the card each has issued and on the other card. Having one paid off and one maxed out, to me, is a more risky proposition than having two at mid-level usage. Just be sure each shows a balance reduction each month, and hopefully neither chases you.

[extra300]

@HeavenOhio 

Got it. Sorry, I misread your post

I'll pay both down per majority of advice on this thread.

Thanks again everyone!

[extra300]

Sorry to necro post on my own thread but wanted to thank everyone again for the advice.  I followed the path outlined by most of the posters.  My scores jumped 60 points across the board and both accounts not only didn't balance chase but actually increased my CL( I did not request a CLI).

Thanks again...now on to paying them off fully!