Increasing CC usage for a few months - any tips?

[Anonymous]

I am taking a new job and for a period of 3-4 months I'll need to put $1-2k on credit cards.  I currently have 0 balances on the following cards:

Juniper Visa - $5500 limit

BOA Amex - $7500 limit

Chase Rewards - $1100 limit

AMEX Gold - charge, so.. can't use that since I have to PIF.

I want to avoid triggering a CLD when I begin using these cards.  Do you think one card would be better than another to put this on?  Should I split it evenly?

[Anonymous]

I would likely just put it all on the bofa card if only 1-2k since that would be at most 20% util which doesnt seem to look too bad. Also if you have balances on 2\3 cards then you may have too many cards with balances

[KingAdrock]

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@Anonymous wrote:
I would likely just put it all on the bofa card if only 1-2k since that would be at most 20% util which doesnt seem to look too bad. Also if you have balances on 2\3 cards then you may have too many cards with balances

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Exactly. Put it all on the BofA and keep the other two at zero. For the best score you want less than half of your cards showing a balance, which in your case is one.

[Anonymous]

If you have more than just these 4 cards, even a gas card or store card, I'd spread the 2K across 2 cards. The idea is to utilized LESS THAN 10% of any given account and to carry any balances on LESS THAN 50% of your available accounts. This formula may well be better for your FICO scores than always having a zero balance on all your accounts.

Be mindful that there is a new trigger out there. Even if you have to cycle funds through a credit card to the tune of a couple hundred bucks each month, by means of reimbursement or whatever, pay enough more than the minimal due to remove any doubt in the creditors minds that you might be struggling to meet that minimal due. Example: if you've got a $1000 balance on two cards and the minimum due is $10, send them $100 each month to each of the accounts.

[oracles]

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@Anonymous wrote:

I am taking a new job and for a period of 3-4 months I'll need to put $1-2k on credit cards.  I currently have 0 balances on the following cards:

Juniper Visa - $5500 limit

BOA Amex - $7500 limit

Chase Rewards - $1100 limit

AMEX Gold - charge, so.. can't use that since I have to PIF.

I want to avoid triggering a CLD when I begin using these cards.  Do you think one card would be better than another to put this on?  Should I split it evenly?

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It depends on what is most important to you. If you want to keep your scores as high as possible and you have more than these 4 cards, i would say spread it out over the two highest credit limit cards. If you want to save money, then put it on the lowest apr card out of BofA and Juniper.

You decide which is more important to you. i dont think creditors will see a problem if you put it on 1 or 2 cards.