I have a line of credit for 1k and a visa for 1k, I'm paying off an auto report and need to use 1k for a few days before my paycheck comes in. If I charge 500 on the credit card, and use 500 from the line of credit would that be better than using 1k from my line of credit? I'm trying to figure out how to do this without bringing my score down.
Starting Score: Experian 514 Equifax 510 TransUnion 510
I believe it's installment line of credit.. It's with my credit union checking
If paid off before statement cuts utilization wont be figured in. Once paid down utilization won't be a factor so your score will rebound. Installment is looked at more favorably than credit card debt.
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
I was thinking the same thing.. But since the CA is running it on the 25th I'm not sure when my bank closes it's books. So that's why I asked the question. I know it would only be a month if it did decrease in points, but that is a long time to wait to see all my hard work go down. Oh well.. Not much I can do about it