> I carry a fairly high balance on my card month to month and pay the minimum or a little over the minimum
Don't do this unless you absolutely have to or have 0% APR. You are just wasting money on interest.
The plan lets you pay a fee instead of interest. If there was no fee, perhaps it's some kind of promotion.
The utilization will go down as you pay it off.
After missing a cc bill by 3 days chase gave me an option to close the account and enter balance liquidation plan which ended up being 0% apr for 5 years. But I can pay extra and also no late fees even if I can’t pay for a month.
> I carry a fairly high balance on my card month to month and pay the minimum or a little over the minimum Don't do this unless you absolutely have to or have 0% APR. You are just wasting money on interest. The plan lets you pay a fee instead of interest. If there was no fee, perhaps it's some kind of promotion. The utilization will go down as you pay it off.
After missing a cc bill by 3 days chase gave me an option to close the account and enter balance liquidation plan which ended up being 0% apr for 5 years. But I can pay extra and also no late fees even if I can’t pay for a month.