This thread is getting longer and longer 
This seems a very simple thing to figure out. Do whatever you feel like. Not science or art, use common sense.
@Justagirl73 wrote:
@SouthJamaica wrote:
@Anonymous wrote:I have four credit card accounts that are maxed out.
3 are $12k each, 1 is $30k.
I have gotten some money and so can make payment and reduce the balances.
I do not have enough to get all accounts below 30% (Debt to Line), But can make some
accounts under 30% and the rest below 50%.
Which scenario improves my credit score the most?Make the three smaller accounts below 30 %, and the larger account below 50%.<--this one
or z
Make the larger account below 30%, and the smaller accounts below 50%
Please advise?
You were answered......see in red above.
Thanks Justagirl
As someone who found themselves in the same situation (although many more cards and more than twice the dollars) and has been working to get rid of it, I hope that I can offer some insight. Are you planning to apply for a mortgage or auto loan in the very near future? If the answer is no, I would suggest working on a strategy to pay off the debt faster rather than worrying about slightly increasing your credit score in the short term. That will take care of itself as the balances come down, the accounts age and the accompanying payment history to go along with it.
Does the $30k card have any balance transfer offers? If the answer if yes, I would highly suggest that you pay it and one of the $12k cards off completely and move the entire remaining balances to the 30% card. If the previous posters' math works out to be your dollar amounts, then this should put you at about 87% on that card and 0% on the rest. From where you are right now, you will already see a huge boost in scores anyway and whatever you have been paying on the 4 cards could then be applied to that balance which will come down quickly. That will likely save you thousands of dollars! If the $30k card does not have a BT offer, try calling the lender to see if one is available, or I would suggest looking into what is available on the 12k cards.
Moving the balances to a loan as has been suggested would really only make sense if you were trying to maximize your score for a mortgage in my opinion. You're very likely not going to get a rate low enough to compete with even a 1.99% + 3% fee or 0% + 5% fee BT offer. I don't know about you, but paying an extra $2k or something every year in interest is not worth an extra 10 points on my credit score.
Very nicely articulated, K!
