@jcooks wrote:But paying off all the cards immediately will free up those cards to use, plus also gets his utilization down and should see a huge increase in score if no other negatives. Then he would have a much better chance of getting an unsecured card from NFCU and still be ahead. I would recommend paying off the cards, keep utilization low for a few months then apply for an unsecured NFCU card.
This *can* lead down a very nasty path! I'm not saying it WILL happen to the OP, but it certainly CAN happen to anyone--once you pay off some cards, and see those zero balances, and start running them up again, guess what? You're now stuck with two sets of balances! The original balances you transferred using a BT offer, and then the new balances on the cards you just paid off. You're digging yourself deeper and deeper into a hole.
Only the OP knows themselves well enough to judge whether this is a good move for them, but in general terms, I don't recommend it.
@jeboles wrote:The APR on the existing cards are 30+%. They are Fit Mastercard, Surge, First Premier, Aspire, and Total Visa. They all are coming up with annual fee and the start of monthly maintence fees. The Navy Federal would be 18% at worst. All the other cards will be completely closed. I am not worried about short term score goals as I already have my mortgage, furniture, etc.
GOOD GRIEF! 30+% interest? You're making a very smart move shutting them down. They probably served a purpose at one point, but now kiss them--and their outrageous fees and APRs--goodbye!
@jeboles wrote:I know it is wise to get rid of them before the fees start. What I don't know is which way is better long term:
A) Pay the all off and open a $200 NFCU Secured Card
B) Consolidate them all with a $5,000 NFCU Secured Card and make the payments I am making now as my minimal.
As about 6 of us have told you, the best thing is to just pay them off.
@SouthJamaica wrote:
@jeboles wrote:I know it is wise to get rid of them before the fees start. What I don't know is which way is better long term:
A) Pay the all off and open a $200 NFCU Secured Card
B) Consolidate them all with a $5,000 NFCU Secured Card and make the payments I am making now as my minimal.
As about 6 of us have told you, the best thing is to just pay them off.
+1
We say finances over FICO here. Add up your monthly fees and multiply by 12. Probably would be a big part of going secured and no fees. Kick em to the curb. C-YA!!!!!!!!! (Then you can add a RIP Badge. See below 
)
Advise: Once closed check each day that they are really closed and $0 balance. They like to add trailing interest or dely closing them to make a little more $ off you. Stay on top of it to the very end.
