Credit Cards

[dialect]

0% bt fee

^ that says it all

get the card

[frugalQ]

So, I decided to not app for the Slate card. My reasoning is because I won't even start the mortgage process until April/May.....and won't close until Sept/Oct. This will give us plenty of time to PIF and recoup the 2.k that I was thinking to transfer. In addition, I'd rather take advantage of 0% offers after we close....more flexibility to purchase things we will need in the new house

I'm not in that much of a hurry for the CB to report 0 on AMEX. It is my discretionary/daily spend card, and I have a set amount to spend each month. I am gonna try and reduce my discretionary spending and pay more than statement balance each month....with the intent to have it report 0 by March.

I am using this as a personal challenge in financial discipline. If I can do this, I will be the woman!!! If it doesn't work out, I'll just pay it.

[jsucool76]

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frugalQ wrote:
So, I decided to not app for the Slate card. My reasoning is because I won't even start the mortgage process until April/May.....and won't close until Sept/Oct. This will give us plenty of time to PIF and recoup the 2.k that I was thinking to transfer. In addition, I'd rather take advantage of 0% offers after we close....more flexibility to purchase things we will need in the new house

I'm not in that much of a hurry for the CB to report 0 on AMEX. It is my discretionary/daily spend card, and I have a set amount to spend each month. I am gonna try and reduce my discretionary spending and pay more than statement balance each month....with the intent to have it report 0 by March.

I am using this as a personal challenge in financial discipline. If I can do this, I will be the woman!!! If it doesn't work out, I'll just pay it.

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If you're gonna be mortgage hunting in april/may I would hold off on any apps until after you close. 

Also, if I read correctly, your amex is a charge card. You don't really need to worry about reporting a balance on it, as with any scoring model after '98 it doesn't count into your util (and I don't think anyone really uses 98 except the myfico TU score). Even when you're mortgage hunting if you have a balance on your amex card and they ask you about it, you could just explain that it is a charge card, not a revolving line so it isn't like you'll be carrying the balance. 

[frugalQ]

I know it isn't affecting utilization, but no one can tell me how the charge balance is figured into DTI from a mortgage perspective. So, I figured its better to have 0 report and take it completely out of the equation.

I'm gonna keep plugging alone with my current plan. No need to add new credit in the mix. Other than my mortgage company having to update credit scores during the refi process, I haven't had a credit inquiry since May.

Thanks everyone for your thoughts!!