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My total utilization was 27%, i paid down my CFU leaving 2%, but my Cap1 is due next week and has over 50% utilization on it. I could transfer the balance to the CFU ? I will pay down on it i just cant PIF by the time the statement cuts by the 20th. Unless my new total credit limit is reported by the end of this month that will automatically lower it down.
@Mdowning30 wrote:My total utilization was 27%, i paid down my CFU leaving 2%, but my Cap1 is due next week and has over 50% utilization on it. I could transfer the balance to the CFU ? I will pay down on it i just cant PIF by the time the statement cuts by the 20th. Unless my new total credit limit is reported by the end of this month that will automatically lower it down.
If you can get both accounts reporting at 28% or less that will help your scores a little, but it's not worth it to incur a balance transfer fee.
9, 29, 49, 69, 89
I would just get the card under 49% asap and not worry about transfers.
Just start pushing payments towards it as you can.
Time will balance everything out.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
I could get the Cap1 down under 29%.
@Mdowning30 wrote:I could get the Cap1 down under 29%.
That would likely help, but keep in mind that the impact on scoring due to utilization is transient - if you don't get down to that 29% number this month your scores may take a hit but if you make it next month your scores will recover.