The misfiring brain on BT

[Tiersha]

OK so I have 2 cards with 0% bt.

1 is at $1100 for 18 mns

1 is at $500 for 9 mns (no surprise there it's cap 1-8 yrs, 1 late in 2019 and they've never even approved a cli).

1 have 2 of 5 cards (not Inc bt cards) that have a balance and same int rate.

1 card at 4k (maxed)

1 at 2k (56% uti)

My brain has totally misfired as to the best way to utilize the bt...I need help.

Do I knock down my 4k as much as possible which then would be 60% uti.

Do I knock down my 2k to 29% uti and the balance on the 4k?

Do I use all the bt amount to knock down the 2k balance to $400

Does it even matter at this point other than hey i have $1600 in bt to use to knock down total debt?

When the bt ends My cu will do personal loan for the remaing balance at 16%.

My ultimate goals, pay down while increasing score.  Currently avg 679.

Tia.

[SouthJamaica]

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@Tiersha wrote:

OK so I have 2 cards with 0% bt.

1 is at $1100 for 18 mns

1 is at $500 for 9 mns (no surprise there it's cap 1-8 yrs, 1 late in 2019 and they've never even approved a cli).

1 have 2 of 5 cards (not Inc bt cards) that have a balance and same int rate.

1 card at 4k (maxed)

1 at 2k (56% uti)

My brain has totally misfired as to the best way to utilize the bt...I need help.

Do I knock down my 4k as much as possible which then would be 60% uti.

Do I knock down my 2k to 29% uti and the balance on the 4k?

Do I use all the bt amount to knock down the 2k balance to $400

Does it even matter at this point other than hey i have $1600 in bt to use to knock down total debt?

When the bt ends My cu will do personal loan for the remaing balance at 16%.

My ultimate goals, pay down while increasing score.  Currently avg 679.

Tia.

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I can't really understand your post, but

(a) maxing out one card with a balance transfer in order to reduce the balance on another is not helpful

(b) a balance transfer doesn't "knock down total debt".

If the limits on your cards with balance transfer offers are $1100 and $500, you could probably do balance transfers of $300 on the $1100 card and $140 on the $500 card, both being sent to the maxed out card. That wouldn't hurt your scores and might help a little.

[Tiersha]

To me, it does knick down my balance due to not having to pay interest on said amt.

That aside I totally understand  when you mention not maxing out the bt cards.  See my brain was stuck cuz I never kept in mind the uti on the bt.

[JoeRockhead]

The best way to utilize the 1600 in BT you have available would be to only use 28% of those available credit limits or roughly $448.00 (combined on both cards). Although they're labeled as BT cards, they're still just revolving credit accounts, so maxing out either, or both of them is only going to hurt you not help you. You're just trading one maxed  out account for another (or two). If anything I would do as @SouthJamaica suggested and put the money towards the maxed out card (4k) which might actually improve your scores somewhat.