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Will BT improve FICO?

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sillykitty1
Established Contributor

Re: Will BT improve FICO?

Thanks for everyone's feedback.  

 

I think the conclusion is there is no guarantee of a score bump if I consolidate the same amount of debt from several cards to one.  I don't need to BT to avoid interest charges, since I PIF, it's more an issue of cashflow and depleteing cash reserves.  

 

Since there is a 2% BT fee, I'm not interested in spending $200 for what is more than likely, no benefit.

Message 11 of 12
masscredit
Valued Contributor

Re: Will BT improve FICO?


@JSS3 wrote:

 

Ideally, You want all but one card reporting 0. One card reporting less than 9%

 

Do with this information what you may. Smiley Wink

 

 


I thought the ideal is one card reporting less than 10%?

 

As for your score increase, could that have been after the cards that were paid off reported $0.00 balances and before the other card reported the balance with all of the transfers on it? Not trying to rain on your parade, just wondering.

 

 

Pre-Credit Rebuild Scores Pre-DC (3/24/22) - EQ - 524 / TU - 519 / EX - 495

Current Scores - EQ - 687 / TU - 663/ EX - 677

SDFCU Secured - $5000 / TD Bank - $5000 / Mercury - $5000 / Capital One Savor One- $5000 / Capital One QuickSiver - $4500 / Ally Master Card - $2800/ Walmart Mastercard - $2250

Andrews FCU SSL $1500
Message 12 of 12
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