Is This Action Advisable?

[pip3man]

hey guys I got a couple of new cards I obtained recently and all of them have the 0% APR ranging from 12-15 months. I also did a balance transfer on them and dont intend to make any new/extra purchase. My question is this - is it okay or safe to only make the minimum payment on the 0% APR cards until the promo runs out or the balance paid in full whichever comes first?? Also my goal is to also get auto credit line increases down the line like in 3-6months as most people experience but I'm wondering if making the minimum payments would negatively affect my chances of getting an auto CLI or even a possible Adverse Action. The creditors I intend carrying the balance with is currently Discover (58% UTIL from BT only) and Barclay (92% UTIL from BT only). Any thoughts or experience? Thanks alot

[chrisw1968uk]

Im not sure / I doubt that they would take adverse action against you if paying on time - but i think that only paying a minimum will not do your chances of a CLI much good

[pip3man]

thanks for ya input I guess I'll just have to pay around 2-4x the minimum to be on a safe side but by doing so I will pay the balance much faster and earlier than I had intended to ride them out under the intro 0% APR.

[chrisw1968uk]

Maybe pay 10% of the balance each month?

[B335is]

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@chrisw1968uk wrote:

Maybe pay 10% of the balance each month?

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That's what I would do.  I would try to make 10x the minimum payment, but 3x as my personal minimum.

[pip3man]

u mean u pay 3x the minimum personally, is that right? quick question, do u get auto or customer initiated CLI with that payment pattern?^

[LearningMoreAboutCredit]

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@pip3man wrote:

u mean u pay 3x the minimum personally, is that right? quick question, do u get auto or customer initiated CLI with that payment pattern?^

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There are so many variables to one's credit; so, there is no definitive answer for that but certainly paying more than minimum is a good start.  Take into consideration that if you only use a small portion of your credit limit you don't give the cc issuer any reason for a CLI...my .02.

[youngandcreditwrthy]

I think paying 10% as the minimum will keep the good credit rolling. NEVER MAKE just the mininum. Carry all the balances you want at 0% though while keep util in check of course.