|Total Credit: $218,900||Credit Utilization: 1%||AAoA: 5 years, 3 months||Installments: Car Lease, Marcus Loan||Negatives: 0|
I have $10,757.94 on a cc with a max of 12,500. 0 on another card with a max of 1,100. And 0 on another one with a max of $700. Interest rate on the cc with a balance is 18%. The interest rate on the consolidation was around 24. The reason I am considering is to raise my credit score while allowing myself to save up more money.
18% vs 24% doesn't sound like a good deal. You may see a small boost in score, but you'll still have a balance that you will pay more in interest on. Basically spending money on a few score points. Personally, I wouldn't do it, considering your card has the lower interest rate.