cc balances

[youngandcreditwrthy]

Yeah, I think both cards need to be at least below 50% util, then maybe take a VACATION! :-) LOL

 and of course, higher interest rate gets paid first, and def try to do a BT to a card like Chase Freedom or Slate; they usually have 0% for 15 months.

Per Suze Orman, it's also very important to have six to eight months' worth of expenses saved!

best of luck!

[Roarmeister]

I don't disagree with the idea of putting part of the money towards savings / emergency expenses.  It depends a lot on the OP's other financial status and what their savings are currently like.  That said, $20k is a nice tidy sum to be able to throw at your debt which should "warm your cockles" nicely! 

Unless you are applying for additional credit right away, I'd say it is immaterial whether you bring the utilization below a certain level or not.  I would work on what's best for your financial position, period.  That usually means paying the highest interest card first.  If they have the same rate then pay them down to an equal amount of utilization.  If you choose to set aside some funds for savings then I would consider 10%.  You may also consider tithing or giving to the church & charity if you are religious.

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I just noticed in another post of yours that you are planning to refinance in 6 months. So my advice above still works.  But in 4 months time, try to get both cards with balances down to equal utilization amounts or better yet down to zero.  Then it will take 1 full cycle to report from the vendors to the CRAs and at that time you should get the maximum FICO score benefit.  Good luck.