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Assuming you’re not borderline where all of your lenders are going to freak out if you have a card with very high utilization and you don’t plan to apply for anything in the near future, I would just take the temporary score hit for what makes the most sense financially.
One card near the max vs 2 cards at like 50-60% won’t be too different for many profiles, especially with that many open accounts. FWIW Discover doesn’t seem to care about high util on their cards, and some of the biggest Discover CLIs I have seen were after paying off large BTs.
It's not that big of a deal having high balance as long as you reduce the balance about 2-3 months before you are planning to apply for credit. I was at 90%+ utilization before reducing it to below 20% about 2-3 months before applying and getting approved for Chase, Citibank, Discover, and Barclays. Important thing is not missing payments.
At least if you keep it to one, the other can still be used for the rotating categories and purchases. If you split it, you wouldn't be able to use either for any new purchases w/o PIF to avoid interest charges.
@Anonymous wrote:At least if you keep it to one, the other can still be used for the rotating categories and purchases. If you split it, you wouldn't be able to use either for any new purchases w/o PIF to avoid interest charges.
This is a valid point. I never even thought about that. I’m going to just throw it all on 1 and call it a day
@AverageJoesCredit wrote:
I would just app a 3rd Disco
Oh wait, not possible lol. Actually if both were over a year id combine, close one then app another. Put it all on the 12k card and enjoy your next cli of 5k
Just got the 2nd disco like a couple months ago so not possible. My plan is to combine after the 2nd disco reaches a year. I’ll prob combine it into my oldest one which I believe is 4 years old now.
@AverageJoesCredit wrote:
I would just app a 3rd Disco
Oh wait, not possible lol. Actually if both were over a year id combine, close one then app another. Put it all on the 12k card and enjoy your next cli of 5k
Some people have enough trouble staying in the garden without the encouragement to leave. lol
I combined 2 disco cards, my second one was only 9 months old when it was done.