Credit card quandry!!? I have 3 Chase credit cards. 2 next to 20% interest and
I have 3 Chase credit cards. 2 next to 20% interest and one with 0% until Feb/08 and later it's 7.99... So here is the deal. I looked-for to pay bad the 2 w/20% and move my credit limits to the one thus closing the other 2. but I have the other 2 longer. So question.. if I move of late most of the credit limit ($2000 of $2500 on one and $1200 of 1500 on the other) and save those 2 accounts open but own my other card from $2500 to $5700 available credit... is this better.. meaning.. is it better to maintain all 3 unfold.. have a voluminous available on one and have two smaller cards next to lower available credit limits.. I dont want to close out the other 2 cards because I enjoy had them for much longer the the one next to 0%.
What is your advice?
Answers:
Having sizeable debt or a high debt-to-credit ratio have a much bigger impact on your credit score than your how long you've have the cards.
FICO credit scores are base on:
Payment history - 35%
Amounts owed - 30%
Length of credit history - 15%
New credit - 10%
Types of credit used - 10%
Once you pay stale and close out the other two cards, you'll have much more available credit, and you can request a credit increase on your remaining card.
Transfer the two greater ones to the lower rate.Dont close any card. Pay as much as you can to reduce your blance
I would move one of the elevated interest to the 0% and keep the one long occupancy...there is no defence in the world why you inevitability more than 2 cards.
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