Credit Utilization Rate on 0% interest for 15months card?

[Anonymous]

Hello,

I have an AMEX card with $8,000 credit limit and a promo that includes 0% interest for the first 15 months. I pay the card off each month on time, but I'm wondering how will this effect my Credit utilization rate? Since I have 0%, I may keep the balance at $4,000 while still making the minimum payments each month.

thanks

[-Wade-]

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@Anonymous wrote:

Hello,

I have an AMEX card with $8,000 credit limit and a promo that includes 0% interest for the first 15 months. I pay the card off each month on time, but I'm wondering how will this effect my Credit utilization rate? Since I have 0%, I may keep the balance at $4,000 while still making the minimum payments each month.

thanks

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 what's your total CL's on all cards or what will your util be with a 4k bal ????

[Anonymous]

Hello, it's the only american credit card that I have. I just moved to the United States so I don't have much credit history.

[TheFate]

Why keep the balance at 4k? That 50% of UTL

Charge 1600-2000 and make above the min payment on it, min payments are only for tuff times not long term

[-Wade-]

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@Anonymous wrote:

Hello, it's the only american credit card that I have. I just moved to the United States so I don't have much credit history.

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If you go from 0% to 50% util  you score will go down ( how much i don't know ). It's best to keep your util between 1 - 9%

[lonelyisland]

Are you planning to get any other new credit cards during this time frame?

Are you planning to try for the 3X CLI in 61 days?

If not, I dont think there is a problem leaving it there.

Although, if you have not transferred the balance already, I would try and get my 3X CLI first on day 61. 

Then 4K might not make as large a dent in your credit limit. 

[Anonymous]

Ok thanks guys, I'm hoping to get a home loan in 12 months time, that's all. Not looking to get any cards at the moment.