No. of Recommendations: 3
AJ, credit karma states that if I pay off my balances, only, no other changes, that my score will go up 21 points. That is just a predictor, of course, but it's already what I plan to do, so that will be helpful. If I were ONLY to open a new card with a limit of $500 it predicts an increase of 29 points. Weird. And if I do BOTH, pay off all balances and open a new card with a limit of $500, it predicts an increase of 29 points.

So, i think for now, I will just pay off all the balances, diligently only use 15% or less on each card, wait 4 months or so, and revisit the issue, meanwhile just concentrating on saving money. Then I will come back and probably have a lot more questions! LOL. I'd like to eventually get to where I have just two cards, and have no annual fee and low rates, and perhaps some kind of rewards/points for something I would actually use...

Thanks to everyone who piped up about this. I'm sure it seems boring and redundant for those more savvy than I, so I doubly appreciate the time and effort!
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement