Holestly I would garden, and work on the collections at this point. Maybe try your luck on good will letters for the lates. As for your profile of cards I would leave all as is and let it grow. Keep making the payments on the Cap1 Just an opinion, I'm sure others will jump in with other opinions.
So I have a question but I don’t know how to really ask it correctly. So I will explain my situation.
Right now my credit utilization is showing 3% from 8% ( my score hasn’t increased ) but anywho, I have a debt with capital 1, I had a credit card balance of 10,000 after everything was calculated I owed more. But right now I am showing Derogatory $10,815. I am currently paying them monthly. The rest of my credit cards are
Navy federal $92/1000
$314/10,000 (not reporting yet)
AMEX 110/500 but I recently paid this it will report on the 15th
Citi 12/200 (not reporting yet)
Indigo 28/300 (just opened this card but thinking of closing it )
I have the myjewelers card 0/5000
My question is would it be beneficial for me to open an Ox Publishing, Chase Hutton, and a new coast direct ( all for the credit utilization ) will that help with the debt to ratio ? (Am I even asking this right) will my score go up?
I have a bunch of late payments on my credit report as well as 2 collections that I am working on.
I would stay away from opening any more accounts, especially the ones you're listing there.
They would be ok if you had no other options, but you're past that.
This account...$314/10,000 (not reporting yet) , is that also NFCU?
Because if it is, you may want to consider doing a BT from closed maxed out account. Not sure how much that would help you scoring wise, as you'll still have derogs present, but it would save you money.
So I should BT the whole 10,000 to my NFCU account ?
As much as you can, yes. I am fairly certain that terms of your approval with NFCU are by far more favorable than what they are right now on that maxed card
You should still make every effort to pay this down as aggressively as you can without severely hurting cash flow.
While the BT will help save you money, scoring wise maxed card is a maxed card. Do a BT, then do your best to get out of the debt.