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Is it better to have one card with a high balance or several cards with smaller balances?

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ren79
New Visitor

Is it better to have one card with a high balance or several cards with smaller balances?

I have one card that is near maxed out, but one card that has 0. Should I move some of the balance from the high card to the empty one? Will this help my utilization? Thanks!

12/13/13 EQ 642 EXP 605 TU 613
CapOne1800 Citi Diamond 3000
WellsFargo 400 Chase Freedom 1000
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2 REPLIES 2
llecs
Moderator Emeritus

Re: Is it better to have one card with a high balance or several cards with smaller balances?

One card

Message 2 of 3
takeshi74
Senior Contributor

Re: Is it better to have one card with a high balance or several cards with smaller balances?

Question is really too vague.  For certain balances/limits it could be better one way and better another in certain cases.

 

What's the actual utilization on the maxed card?  What would your individual utilizations be after transferring?  Keep in mind that balance transfers generally have an associated fee.

Message 3 of 3
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