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Aka8114

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Transferring Balances
I have a balance on two credit cards. One has an APR of 24.99% and the other has an APR of 15.99%. Should I transfer the balance (less than $2,000) to my lower APR credit card (Has a 72% utilization) (However my overall credit card utilization is 37%)? The offer for this card is 0% APR through billing cycle ending in 10/2016. Additional terms apply. The balance transfer fee is 2% of the amount transferred with a minimum of $5. If I chose to transfer how will this affect my credit score?

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I wouldn't advise raising utilization to over 72% on one card, that is way too high as it is. If you can get a new card with zero percent to transfer your balances, then yes I would do so as long as you are not going to have crazy utilization. However, if you can save a lot of money, maybe you should disregard your scores for now and work on saving money, your scores will rebound when you get your utilization lowered.

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