The BT to the new NFCU saves you some interest cost.
Moving to PIF on the CSR is a good move.
No one can tell when AA might happen. One factor may be how long you have had the CSR. If a long time, and longer time with Chase on cards, that should reduce the chance of adversity.
@Botz1213 wrote:Hi All,
My question is around best strategy here. Im currently at 690 - 705 across all 3 bureaus on F8 @ MF.
I have 2 NFCU Cards with 40 - 45% utili, CL of 15k, 13.5k. I have an Amex with 0%, 1k CL. I have two Chase cards with 40% util (19.5 & 18.6 CL's). I have several store cards (Amazon 750 util, 1.5 CL, Best Buy 1k util, 8k CL, HD 5k CL, MicroCenter 3k CL, Basset 4k CL, and Sync/Ashley 5k CL). I also just opened a NFCU car loan for 72k this month. I have a JARED charge off from 4 years ago and two closed PIF sync card (5 years ago).
I applied for a NFCU platinum and was approved for 15k today. My goal in the next few months is to build my credit profile and get into the higher 700's. My thought is to BT my Chase onto those and put the chase card in the drawer. The CSR is my daily driver, but I will PIF the balances moving forward. Is there a different strategy I should use? I know I am heading into the garden for quite some time. I plan on applying for a mortgage in 6 months.
My other question - if I balance transfer my chase accounts onto the platinum, will Chase automatically close my accounts? I do not want that to happen.
With Chase, you are using 40% of $38.1k. I would BT a total of $4k between these 2 accounts to get them under 30% util. Perhaps BT $320 from your Amazon account. That would get all of your accounts under 30% utilization and keep your new NFCU Plat under 30% util.
I beleie from a FICO scoring standpoint that is your best path forward. From a cash flow standpoint, obviously you should move as much of any balance as you can to a lower rate.
