Do I need utilize the 0% Intro APR?

stone · ‎02-17-2012

Hi, I always PIF for all my five CCs, but I am just thinking if it could help on something(maybe credit score, or something else) that I only pay the min. due and let reminder balance roll to next statement. Since I never utilize the 0% Intro APR yet, and three of my CCs stil in 0% Into APR timeframe.

Wired question?! haha

Duke-of-Earl · ‎02-17-2012

Yeah. I'm like you, never carry a balance. Temporary 0% rate can only get you into trouble. Just say no.

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Anonymous · ‎02-17-2012

@stone wrote:
Hi, I always PIF for all my five CCs, but I am just thinking if it could help on something(maybe credit score, or something else) that I only pay the min. due and let reminder balance roll to next statement. Since I never utilize the 0% Intro APR yet, and three of my CCs stil in 0% Into APR timeframe.

Wired question?! haha

Hi Stone!

You don't need to utilize a 0% offer to carry a balance in an effort to improve your FICO scores. FICO doesn't care whether or not you have a 0% intro apr... it cares about your utilization, though! High utilization can lower your score. Additionally, some lenders have been known to get nervous when you pay only minimums. I don't know if that'd be the case for any of your lenders, but it's something to keep in mind.

I'd suggest that you just keep doing what you're doing (using your cards, PIFing, and only carrying a balance when it's financially advantageous to do so, or for the rare short-term loan w/ exit plan), and let time do the rest.

Wolf3 · ‎02-17-2012

@stone wrote:
Hi, I always PIF for all my five CCs, but I am just thinking if it could help on something(maybe credit score, or something else) that I only pay the min. due and let reminder balance roll to next statement. Since I never utilize the 0% Intro APR yet, and three of my CCs stil in 0% Into APR timeframe.

Wired question?! haha

You didn't actually ask a question.

I always make use of the 0% APR, as it is a great help in cash flow. If you are concerned about your FICO score, you should calculate your utilization with and without.