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- Nov 6, 2012
Utilization has no memory. It is updated every month and has no idea what your utilization was the month prior.not worried about the money part, the interest or the transfer fee I'm fine paying since I know it's inevitable. What I'm worried about is, would my credit score take a hit more from having an interest on my debt or opening up a new card (hard pull). I just don't want anything affecting me in the long term that's gonna be hard to fix.
Once your card is paid back down to <30% your score will go back up.
You also didn't state what your CC limit is to let you know how much the balance will affect you score. Also would need to know how many cards you have and those balances as well.
Just pay it off in 2 month. Makes no sense to open up a new card, pay a 3% BT fee just because you have a 1K balance on a card that you will be paying off in 2 months.
The hard pull will affect your score for 1 year.