Ok, DH and I are repairing our credit. My credit is decent. I have a few 30 days late dating back 6 years. Thanks to this board I have successfully cleaned TU, most of Experian and not focusing on Equifax. Anyway, DH has quite a way to go. I am only now focusing on him. His will take awhile to clean but he is already getting better credit card offers in the mail. Here is my situation. I have 8K in credit cards. DH has about 5K in credit cards. I have over 12K left on my credit limits. Here is the breakdown of our interest rates. DH-3500 providian 19.8% 1500 Capital One 0% until Sept Mine-5800 Discover was 0% now 12.99 1700 Citibank 1 10.74% 2000 Citibank 2 19.8 Ok actually I have 10K in credit card balance. Anyway, I just got a balance transfer for 3.9 percent offer for life of the transfer from Citibank 2. I am thinking about having DH balance transfered over to my card. However this causes a problem. I just got my credit to creditline down to 35% this will increase it by a lot. This will bring my credit score down dramtically. Do you think this is smart? We just bought a house in December and I do not plan on making anymore big purchases until next spring. So my logical side says "Do it dumbass" but the side of me that worked so hard to improve my scores is telling me not too. You never know when you might need a good credit score,,. 2nd problem is I want to get rid of the 2000K at 19.8 percent before I do the balance transfer because you know they will put all my payments to the BT instead of the 2000K that is already on there. So I have some juggling to do to do this.. Here is what I am going to do.. Since I cannot BT citibank to citibank.. BT my Discover over to my citibank 2. Then 2 weeks later BT my citibank 2 back to Discover (after I call them to see if I can get another good BT offer) Chances are they will give me a pretty good offer since it is plantium. Plus this will get rid of the 2000K that is already on my citibank and I won't have to worry about them collecting 19% from me. Then take what is left on DH cards and BT back to Citibank. Augh!! does this make sense? Has anyone else ever done this? Just to try and beat them at their own games. The only reason I think I got the offer from my 19.9% citibank is because I think they think I am stupid enough to not know they will pay off whatever I BT over to them before they pay off my 2k at 19% that is why they offered to extend my credit out 5k....Such slimes!!!
