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Credit Repair/Complicated Balance Transfers

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Question
I'm about to head back to graduate school and need to start saving for some lean times.  I have a lower interest credit card with a 0% balance transfer APR that is at 50% of my balance limit.  I have another card at a higher interest rate that is at 60% of the limit.  Would it be worth it credit-wise to transfer the balance of the 2nd credit card the the first even if the balance of the 1st would be at 80% of the limit?

Answer
Emily,

I would not worry about the transfer based on credit. It is only a concern when your credit cards are below 50% utilization. They are not.

It would not effect your credit too much to transfer to the 0% interest card.

Also, I would be more worried about the minimum payment due rather than credit score if times are about to get lean.

Chris

Credit Repair

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Chris Ebert

Expertise

I can answer questions for Texas residents concerning issues that involve creditor and debtor rights. Specifically, I can answer questions concerning: FDCPA, FACTA, FCRA, and Texas state collections violations. Further I can guide consumers as how to repair their own credit with out the need for hiring a credit repair company.

Experience

For the last 10 years I have worked as a Sr. Paralegal in a law firm (https://txclf.com) that defends debtors against their creditors. I have reviewed thousands of credit reports and under the supervision of our attorney helped thousands of clients resolve their credit issues.

Organizations
The Ramos Law Firm

Education/Credentials
University of Texas at Austin

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