12-09-2011 08:52 AM
your score may drop since you will be taking a hard hit as well as lowering your AAoA. also do you have any other credit cards if so paying down your utli should help your score
12-09-2011 09:37 AM
I am not sure...its not for me its a friend trying to buy a home. Just recently got out of the military and wanted something to boost their credit.
12-09-2011 09:58 AM
Have your friend see about joining Navy Fed (if not already a member). They are great and once you have a solid relationship with them you're golden. I had lower 600 FICO when I joined and app'd for one of their credit cards. Was approved for $1,000 unsecured. Couple months later app'd for another card when my score went up and was approved for $5,000. Great customer service as well.