iam transfering bank of visa sigg card.... 10,000 limit to bank of america platinm card. which is carrying balance 6999 out of 12500.. i want to trasfer 7500 from visa signature to platinum.. ..so that my utilization comes down..
As visa sigg is charge card... it won't report credit limit.... only reports higher balance.. so want to trasfer 7500 to platinum.
Like this it would help your util but does BofA allow less than 5K on a Siggy?
Thanks alot. i explored that option. confused... whether to pay dcu or bank of america. i will pay bank of america becuase of high utilization. my plan to pay off both cards by june 15th. when iam paying and getting below 3 or 4 percent utilization ... fico is showing a score of 740 plus on quifax and trasunion as well... thanks alot.
i checked both cards several time... Platinum card is rpeorting a limit 12500 and visa siggy is only reporting highest blance and showing as flexible spending.
yes it allowed me... When i applied first time bank of america card.. my intial limit was 5000 on visa siggy.. At that time i posted 2500 from visa sigg to bank of america platinum. ( 1 year back) . Even today when i contacted ... they told YES .. they told i can trasfer and 7500 to platinum . I asked them .. need some more time. and i asked for emv chip card... they honoured that request as well. i asked them ...will it be cancelled if i post 7500 to another.....answer is NO.
I have to admit I found this whole converesation confusing. Just a note Util is calculated accross all CL not individual card. I agree with the others Pay the highest rate card down.
yes you are right. Utilization is caluclated on whole. Not a single card.
Here in my scenario... . i have only one card that is carrying high balance.
U r right.. i have to pay is down highest balance card first. thanks.