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AnonoCat

For maximum CS boost - balance transfer and then payoff?

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My score has dipped recently to high 600s due to high utilization. I have one card left to pay off. I have the money to pay off the card but I need to apply for an apt soon and am looking for a mighty increase. Wondering if it makes sense to do a balance transfer onto a new card and then pay off the new card?

 

I wasn't sure which category to post this so apologies if I'm running afoul of the guidelines. Thank you in advance for any input.

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Getting a new card for BT and paying off immediately will do nothing for your score. In fact, a new CC may temporarily lower your score. Just make sure all CC's report a $0 balance on the statement, except for ONE card, leave a ~$10 balance.

 

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Many management companies are not looking for a specific three-digit number.  They are looking to ensure there are no evictions or other apartment-related defaults. 

 

As noted, a new card, even with a good BT offer, may see the score decrease in the immediate window of time.  Since funds appear to exist, just pay the lion's share of the balance on the remaining account with a balance. 

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+1 to all of the above.  Repayment of the card, alone, will get you the max score boost.  The high balance history will not depress your score.

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