How much hit will I take?

[Red1Blue]

Chase sent me a 0% offer. I took $4k at 0% out of my $4800 Limit. I dont need money, I wanted to build payment history and will pay off $500 / month in 8 months. My out standing total balances other than this is around $3900 and I have total available credit about $90K or so. What kind of score hit will I take due this?

[haulingthescoreup]

Wow, good question! Maybe none at all. Since you have (I think) a gazillion cards, you might be one of those (this includes me) who don't get dinged for one maxed-out card. I'd try to get it under 80% before that first statement reports, though. No point in stirring up all your other lenders.

I also have no real guess about the impact on your AAoA, etc. I can't remember --have you gotten any personal cards within the last six months or so? I was thinking that you got some biz cards, but I don't know if any show up on your personal reports. I wouldn't guess that your AAoA would be affected very much, as you have so many new-ish accounts.

So you might dodge a bullet here. Wow, this has to be my vaguest reply ever.

Which card did you get? I didn't know that Chase was still offering 0% BT's --I'm amazed.



eta: I re-read your post, and it sounds like maybe this was on an existing account. If so, then I think there's a good chance that you won't see much of a score change at all. Please post back if you pull your scores after the first statement hits --I'd love to know!

Message Edited by haulingthescoreup on 10-25-2009 12:32 PM

[Red1Blue]

Hauling, I got Chase Starbucks Visa card. I tried for a product change and they said no. I got 0% till June of next year. I thought use it and make payments on it. I'll bring it down under 80% before the statment cuts and then pay the rest in 6 monthly payments of $500 each. As per AAoA 3 cards would turn 1 year by end of this month and last card would 1 turn year by end of December. After that no more new accounts ding on my scores.