dinomosin Posted September 9, 2008 Report Share Posted September 9, 2008 I have $13,200 in TL ($15,700 with Crown Jewelers on TU and EX) on 12 cards.I've been running at about 50% usage but have come into some money and could easily pay them all off. I want to apply for a NFCU card next month and am wondering how much I should leave in balances and on how many cards to spread it across. Link to comment Share on other sites More sharing options...
swirlgirl Posted September 9, 2008 Report Share Posted September 9, 2008 You already have 12 cards. Do you really need any more? Link to comment Share on other sites More sharing options...
Focus2069 Posted September 9, 2008 Report Share Posted September 9, 2008 You already have 12 cards. Do you really need any more?sure, why not? I have read somewhere, that keeping around 10% balance is good for your score, because it shows usage...but i dont think anyone really knows for sure.I hope your sock drawering some of your other cards if you get the new card. Link to comment Share on other sites More sharing options...
dinomosin Posted September 9, 2008 Author Report Share Posted September 9, 2008 8 are sockdrawed.I want the NFCU because it is prime and seems to be about the best out there that I would qualiy for. Most others are high interest store cards with TL's I will never use. I just fired Credit One so actually I am down to a mere 11. I had a Navy Federal account for many years that I thought I closed in 1999 but since I had a $-5 balance they never closed it. I had figured I couldn't get back in because I have been out of the navy for 15 years but they let me deposit some money and I am still a member.They seem to be very generous with CL's and have lower rates than any of my cards except my 0% for 18 months WAMU. Link to comment Share on other sites More sharing options...
lovebug5 Posted September 9, 2008 Report Share Posted September 9, 2008 I'm a firm believer that if you have the money to pay your cards off, pay them off. Don't leave balances sitting around for the sole purpose of obtaining another card in the near future. Link to comment Share on other sites More sharing options...
willingtocope Posted September 9, 2008 Report Share Posted September 9, 2008 I'm a firm believer that if you have the money to pay your cards off, pay them off. Don't leave balances sitting around for the sole purpose of obtaining another card in the near future.Exactly. Read my signature. 1 Link to comment Share on other sites More sharing options...
lovebug5 Posted September 9, 2008 Report Share Posted September 9, 2008 Oh my goodness. WTC agreed with me. Link to comment Share on other sites More sharing options...
willingtocope Posted September 9, 2008 Report Share Posted September 9, 2008 They started me on some new meds.... Link to comment Share on other sites More sharing options...
dinomosin Posted September 10, 2008 Author Report Share Posted September 10, 2008 If I do put me usage at 10%, how many cards should I split that $1500 over. I was thinking the three with highest limits at about $500 each. Link to comment Share on other sites More sharing options...
willingtocope Posted September 10, 2008 Report Share Posted September 10, 2008 Pay down those that charge you the highest interest rate. The score that you're trying to influence by keeping utilization at 10% is what I call the "sucker" score. Its the score that credit card companies use to predict whether they will make money by charging you interest and occasional penalties. The FICO score that mortgage lenders use want 0% utilization of you credit cards. The FICO new car score doesn't care much one way or the other. Link to comment Share on other sites More sharing options...
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