Thanks for the explanation boosami.
Apologize for not prefacing my previous post by saying it was my first, but here goes:
I've been actively looking at this site for a while and i now look forward to both participating and interacting with all of you.
Ok -- I don't want to hijack this thread by any means, but my question follows a very similar vein.
let's say you have 3 CC'S all of which have above 40% of debt against the available credit. Understanding the best approach is to pay down debt irrespective of CC and APR's -- wouldn't it still be prudent to consolidate all 3 cards into a card with an available credit that is higher than the combined credit limit of all 3? thus lowering your outstanding debt vs available credit ? and boosting your FICO?
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