I financed a Mac Book using Best Buys Visa (Citi bank) during their 18 month financing promotion. Will this affect my credit score? I plan to pay it off in 3 months. I was thinking that it could possibly boost my credit if I make a few monthly payments before paying it off in full.
There is 0 percent interest as long as my purchase is paid off within 18 months. The full purchase of this account is $899 flat.
It will have a (mildly) negative effect in your score until you pay it off. The reason is that it will increase your util to almost 50% on that card. Your overall CL is around $10k based on what's in your signature so it will not have a major effect if you're not carrying other balances. Any negative impact will go away once it is paid.
You're absolutely right :-(. I will lower the utilization to 30% than make a few payments from there. Thank you!!!!!