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althes

Balance Transfer breakdown issue

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I have a BT card coming 15k to use.

Cards with balances.

4000/20000 26.99% monthly interest 95.00

1980/2500 25.99% monthly interest 40

2200/3500 25.00% monthly interest 45.00

2857/4000 28.99% monthly interest 60.00

 

Ok so how do I break this out.

I don't really want to go over 50% on the card, but I am thinking FICO be damned for a year.

Move as much as possible over but not enough to affect FICO too drastically.

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3 hours ago, althes said:

I have a BT card coming 15k to use.

Cards with balances.

4000/20000 26.99% monthly interest 95.00

1980/2500 25.99% monthly interest 40

2200/3500 25.00% monthly interest 45.00

2857/4000 28.99% monthly interest 60.00

 

Ok so how do I break this out.

I don't really want to go over 50% on the card, but I am thinking FICO be damned for a year.

Move as much as possible over but not enough to affect FICO too drastically.

I never go over 50% either. But, if I were in your shoes (with the specs listed above) I would definitely move all of it to the BT card. Utilization will be ~79%, but not near maxed out (90%). The util will go down pretty quickly and you'll save bookoo bucks. I say, "Go for it!'.

 

Note - Obviously, start PIF in the future ;)

 

ETA - I just noticed 3 of the 4 CC's are already over 50%. Your score could actually increase after everything is transferred and reported. This could take a couple of months because of residual interest.

 

 

 

 

Edited by Kat58

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Glad that most folks were thinking like me.

Thanks for the other views also.

FICO be damned big payments to help me out.

Couldn't PIF these are mostly medical debts.

 

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