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Carrying balances during the holidays???

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EandK23
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
Wolf3
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
snowkitty
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
minimock
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

Message 14 of 15
snowkitty
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

App free since 12/11/13*
Message 15 of 15
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