I currently have. Citibank Dividend Platinum Select Limit $2100 Balance $2040.00 AT&T Universal Cash Rewards Limit $1600.00 (Recently increased from $1100 Balance $1100 Capital One Visa Limit $1000 Balance $790 Capital One MasterCard Limit $400 Balance 0 Sears Store Card Limit $1210 Balance $1144 Macyâ??s Store Card Limit $500 (Recently increased from $300) Balance $280.00 I recently received MBNA Platinum Plus with a $5000 credit line and a Chase Classic with a credit line of $1000. I was thinking about consolidating all the cards onto the Chase and MBNA cards since they both have good introductory interest rates. Will this help or hurt my scores. Thanks!
Who cares about the scores. If the interest rates will save you money then do it. The problem is going to be if you consolidate on these 2 cards and then, start running up the old cards. You can't borrow your way out of debt. Consolidate and put the other cards in the sock drawer.
Ya just do some transfers and then you will free up the cards and use them again.. Your score will change
I'm not concerned about using the cards again if I do the transfer. It would be just as easy to use the new cards if that was my intention. The main reason that I want to get my scores up is so that I can get increases and low interest rate offers on the old cards so that I will have a place to transfer the balances back to when the teaser rates run out on the new cards.
