question about combining most of my cc balances to one

[Anonymous]

I was approved for a cl increase of 5000 on my boa card yesterday...its cli already reported to eq and ex but it made NO difference..MY credit score did not budge with an additional 4000.00 available credit (( I really was hoping this would help but nada ((

My questions is...If i take most of the small balances on my cards and put them on the higher cl card do you think it would help raise my score some...being that i will carry balances on FEWER of my cards>>??? even though it wont help uti would it help with less balances carried??

[Anonymous]

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Camilion wrote:

I was approved for a cl increase of 5000 on my boa card yesterday...its cli already reported to eq and ex but it made NO difference..MY credit score did not budge with an additional 4000.00 available credit (( I really was hoping this would help but nada ((

My questions is...If i take most of the small balances on my cards and put them on the higher cl card do you think it would help raise my score some...being that i will carry balances on FEWER of my cards>>??? even though it wont help uti would it help with less balances carried??

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What was your overall util before and after?

[Anonymous]

I'm pretty new here, but I can tell you that a lot of it depends on what the limits on those other cards. If those other cards have lower limits, you may see a score improvement by transferring some or all of the balance to the higher limit card. This can help in 2 ways. First, you'll have fewer total revolving accounts with a balance ("common wisdom" on this group is to have fewer than half of your revolving accounts reporting a balance). Second, if those cards do have low limits, you could have fewer cards that are highly utilized. Individual account utilization is a factor in addition to overall utilization. If you provide more details about each account's balance and credit limit, people will be able to provide more accurate advice.

[Anonymous]

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Camilion wrote:

I was approved for a cl increase of 5000 on my boa card yesterday...its cli already reported to eq and ex but it made NO difference..MY credit score did not budge with an additional 4000.00 available credit (( I really was hoping this would help but nada ((

My questions is...If i take most of the small balances on my cards and put them on the higher cl card do you think it would help raise my score some...being that i will carry balances on FEWER of my cards>>??? even though it wont help uti would it help with less balances carried??

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FICO likes CC to report total UTIL  under 10%   and cards with Bal $0.......For your own benifit  make sure that you do not TRF to a higher int.rate.    IF int. is lower or the same YES I would transfer. BUT make sure that you do not max the card out.

Message Edited by HappyDays on 04-15-2008 01:08 PM

Message Edited by HappyDays on 04-15-2008 01:08 PM

[Anonymous]

the initial balance transfer offer is for 6 months at 0% intrest......

I could transfer 4 cards and no where be near maxed out .....

typical cl on the cards that i have are 600.00 to 900.00    with the highest balance being about 250.00 on each..

so ...i would be paying down over half of my lower cl cards to 0 and only bringing up my new credit limit card to maybe 10%..

I think my question is....if i have fewer cards carrying balances would my scores raise because of that.

I can not seem to get my score to budge NO matter what i do.

I have NEVER been late...Have NO baddies on my reports....average 3 year history... 8 inquiries 5 due to fall off or will be a year old in july...

I just got cl increases on 5 of my cards.......

always pay more than due..dont carry large balances.....yet my score wont budge ((

[Anonymous]

what kind of impact do you guys think will be made if i transfer balances and zero out 8 of 10 accounts........

leaving one account as is and bringing up the balance of one account to 2500.00 of a 5000.00 balance availabe.

Will carrying no balances on 8 accounts and only holding balances on 2 accounts help my scores??

even though i still have the same amount of debt???

would the change help or not matter much???

[marty56]

It helped my score since I took a 80% util card and a 40% util card and consildated it into one 50% util card at 0% which I quickly got down to 35% and it will be PIF in August.  I laso save monthly interest fees as well.

My score bucket seems not to like me carrying a balance on more then one card.