Credit Cards

[cd2004]

I am in the process of moving and I'm in dire need of new furniture and I dont want to max out my credit cards or deplete my savings. I was approved to get an American Signature furniture account at $1500 CL will it report as revolving?  I was worried my score would take a great hit because more than likely the limit will be maxed out?

[MrShush]

It will report as a revolving CL like a traditional CC rather than a line of credit.

[cd2004]

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MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

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Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/

[ryanbush]

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cd2004 wrote:

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MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

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Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/

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are you planning on applying for anything else in the next 6 months, if not don't worry about your scores

[Shogun]

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ryanbush wrote:

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cd2004 wrote:

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MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

---

Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/

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are you planning on applying for anything else in the next 6 months, if not don't worry about your scores

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+1  Maxing your scores only matters when you're apping for credit.  You'll take a ding due to Util but when you pay that off it'll shoot right back up.

[cd2004]

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ryanbush wrote:

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cd2004 wrote:

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MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

---

Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/

---

are you planning on applying for anything else in the next 6 months, if not don't worry about your scores

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No I dont plan on applying for anything in the next year or so, I have applied for all the things I needed in the last 4mths. I was just trying to reach my goal score of 700's by end of year but right now my furniture is more important. I am like 30-50 pts on each bureau away from 700's