I would like to try and maximize my score. I do have some credit card debt. Which senerio would be best:
A. 1 card 75% ($3,000 0% interest) Nebrask Furniture Mart
1 card 75 % ($4000 17% interest) Sam's Club
1 card 50% ($2000 17% interest) Discover
1 card 30% ($1200 9% interest) Credit Union
10 cards 0%
OR
B. 1 card 75% ($3,000 0% interest)
Applying for an instro zero % interest and balace transfering the two 15% and paying off the $1200 card.
My scores as of this morning: EQ 715, TU 685, EX 714.
Scores might rise a slight bit this week as I have two cards that reported balances last month that are now zero - those should update today and Wednesday. OF the above cards only the two at 75% are reporting. The other two I just charged an emergency car repair onto and won't report until the 5th - that is why I am wanting to jump on applying for a zero interest credit card. It will take me until October to pay them off.
What are the 10 cards with 0% outstanding now? Which banks (or stores), which specific cards, and what are the CL? The reason for the question, if they are from BofA, US Bank, or Citi, or other banks, there may be a BT offer available on those cards.
I would leave the Nebraska Furniture Mart alone, but if it works anything like the other "surprise" 0% APR store cards, be darn sure you pay that down to zero well before you think the 0% APR expires, or you will get a big back-dated interest hit.
From a purely financial standpoint, either locating a BT offer from one of your existing cards, or apping for a 0% APR card is going to save interest cost, if you can't just pay down the Sams and Discover rapidly. If you CAN pay down these two rapidly, that potentially saves the interest right there.
The advantage to the BT offers, even a small one, no HP involved.
