I’ve been working on rebuilding my credit which took a nosedive in 2019 due to some car payment issues. Right now my FICO score across the 3 bureaus is between 677-694. Utilization is ~30%.

Accounts:

• Citi Premier (age: 8 years 7 months) - $2,400/$6,900 limit utilized. 28.74% APR.

• CareCredit (age: 2 years 6 months) - $971.22/$4,500 limit utilized. 0% interest if paid in full within 6 months of purchase date. I divided the balance into chunks that I pay monthly to ensure I do not get charged interest.

• AMEX Gold (age: 4 months) - $30 balance. Charge card so no preset limit. I use this for small purchases which I pay in full monthly so APR doesn’t matter.

• Student loans (age: 5 months) - $40k. I originally had something like 19 different loan accounts dating back as far as ~2015 which helped my credit age but I consolidated 5 months ago so unfortunately that lowered the age.

The incentive I have for wanting to potentially open the Discover It balance transfer card is for the Citi card balance. My utilization was ~70% around 6 months ago and I’ve been chipping away at it but the interest is killer. I am in a much better position financially now and have learned a lot of lessons. Namely, I will not be utilizing like that without paying in full every month again. That said, it will take me a few more months to pay that balance off and would go a lot faster sans almost 29% APR. Since I’ve already dragged down my credit age with the student loan consolidation and opening the AMEX, I wonder if this is a good time to make a move like this. I have already been pre-approved for the card. Any reason this would be a bad idea?