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Carrying balances during the holidays???

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Regular Contributor

Re: Carrying balances during the holidays???

Thanks OP For this question. 

 

I decided to take advantage of 0% interest on my new card and was stressing out about carrying a balance through the holidays since I always PIF. 

Message 11 of 15
Senior Contributor

Re: Carrying balances during the holidays???


snowkitty wrote:
My utility right now is 5% total but it will be around 10% when Dec. balances hit

You are seriously overworrying.   IMO, over 50%, concerned a tiny bit,   over 80% Red flags territory.

Message 12 of 15
Established Contributor

Re: Carrying balances during the holidays???

@wolf3 I am overworrying but it's hard not to when I feel like I have come so far. I always feel like the carpets going to get ripped out from under me at any time....I guess only time will heal that Smiley Happy
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Message 13 of 15
Frequent Contributor

Re: Carrying balances during the holidays???

I went on a huge spending spree on a special project about 6 months ago... Carried 40% util for the last 6 months.

 

Im back down to 5%.

 

Beyond cringing whilst you watch your FICO score head south.... I dont think there is anything to be worried about.

 

Sometimes I think the PIF routine is over blown. Credit cards are just that. For credit.

 

 

I dont suggest anyone spend more then they can afford, but if you have a project or other issue that requires the use of your credit, and you have a plan to pay it back in short order, I dont see any reason not to use what you have worked so hard to obtain.

 

Just my opinion, and you know what they say Smiley Very Happy

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Message 14 of 15
Established Contributor

Re: Carrying balances during the holidays???


minimock wrote:

I went on a huge spending spree on a special project about 6 months ago... Carried 40% util for the last 6 months.

 

Im back down to 5%.

 

Beyond cringing whilst you watch your FICO score head south.... I dont think there is anything to be worried about.

 

Sometimes I think the PIF routine is over blown. Credit cards are just that. For credit.

 

 

I dont suggest anyone spend more then they can afford, but if you have a project or other issue that requires the use of your credit, and you have a plan to pay it back in short order, I dont see any reason not to use what you have worked so hard to obtain.

 

Just my opinion, and you know what they say Smiley Very Happy


 

I need to quit worrying about it.....when I had credit cards years ago, I always carried a balance....I was fresh out of high school and didn't do right by them but nothing happened to my credit lines until I paid late or just stopped paying all together. I guess now, I want everything to go perfect that I just worry about it all the time. I know not to put anything on them that I can't pay for but I know I will be putting stuff on there for Christmas that I will have to run a balance on. All these 0% interest deals are killing me *lol*

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

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Message 15 of 15