Am I hurting credit permanently?

[Anonymous]

In the next few days I have to buy a lot of things (approximately $3000), which I wont be able to pay off fully until mid august. My available credit is 14,000. All my cards Im using are in their intro period (0% interest). I know that I will have a temporary drop since the utilization will be higher than usual. I will make more than the minimum payment on all cards, and on time. Since I'm not paying interest and I'll be making payments on time, once I completely pay off all the cards in a couple months my credit will no longer be dinged from it? I just want to make sure that this wont have bad long term effects. Im fairly certain it wont, however I want to double check with the credit experts here.

[fot1]

You will be fine.. ULT is only scored for the month then updates.. no  lingering effects

[Anonymous]

So you're saying even if my utlization is high for several months, as long as I eventually pay it down fully it will be fine? Thanks for replying btw.

[coldnmn]

Saving YOU money is what its all about! That's what good financial planning does, do it and don't worry about it. You can't spend scores but you can spend the money you save rather than them.

[user5387]

I would try to avoid maxing individual cards while carrying a balance.

[Irisa]

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@Anonymous wrote:

So you're saying even if my utlization is high for several months, as long as I eventually pay it down fully it will be fine? Thanks for replying btw.

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Correct, you should fine carrying a balance for a few months. Your score will bounce back as soon as you start paying down balances. Plus $3000 of $14000 is about 21% utilization which is really not bad.  

[Dw4250]

Even maxing out one card for 1-2 months is probably fine as long as you are making regular, on time payments and get the balance down to a manageable level in a reasonable period of time. The people who get AAed are those who max out and stay maxed out.

NOTE: It will temporarily effect your scores but who cares as long as you are not applying for anything soon.

[jonmartin]

There is no such thing as permanent when it comes to credit

[RushXTC]

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@Anonymous wrote:

So you're saying even if my utlization is high for several months, as long as I eventually pay it down fully it will be fine? Thanks for replying btw.

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Yup. So long as you pay it on time, It will always come back, But with a bang! As it will most likely be higher than what it was originally

[Involver]

Your good credit afforded you the opportunity to open 0% intro cards, take advantage of that to save yourself money! Utilization really doesn't have a memory so as long as you pay on time and pay it down you have nothing to worry about. Its only really necessary to fine-tune scoring when apping anyways.