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How would BBRZMC would affect my score?

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Red1Blue
Super Contributor

How would BBRZMC would affect my score?

I did a stupid thing. I charged $430 on my BestBuy Rewards Zone MasterCard at BestBuy. But my CL on the card is only $450. I have several other cards with more than $10K to $20K in CL. I tried to make the payment but statment cuts in 2 days and not sure if the payment would post in time. With one card use close to 95% of Credit Limit would affect my score?
Message 1 of 7
6 REPLIES 6
llecs
Moderator Emeritus

Re: How would BBRZMC would affect my score?

You could see a small drop, but you could easy recover for next month. DW has the card and I can't remember when they report. Maybe it wouldn't be too late for the payment to report.
Message 2 of 7
haulingthescoreup
Moderator Emerita

Re: How would BBRZMC would affect my score?

HSBC loves to sit on payments, unless you pay them an extra $15 to actually acknowledge what you've done. Smiley Mad

Many of us have found that we don't get a score hit for one card maxed out, as long as the overall util is low, and there are only a couple of cards with balances.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 3 of 7
RobertEG
Legendary Contributor

Re: How would BBRZMC would affect my score?

Unless you are planning to app for new credit in the next few months, it is meaningless.  %util has no memory in subsequent scoring.  Sure, you make a hit for a month or two, but easily correctable.

 

As far as the payment not posting by the due date, this has no immediate impact on credit scoring, for it cannot be posted as a delinquency with the CRAs until not paid within 30 days after the statement date.  The problem with not meeting the payment due date is that it subjects you to late fees, and is also a technical violation of your account terms.  This may enable the cardholder to cancel existing promotional interest rates, and even jack up your regular interest rate to the default amount.  That would be my concern.

Message Edited by RobertEG on 04-11-2009 07:32 PM
Message 4 of 7
Red1Blue
Super Contributor

Re: How would BBRZMC would affect my score?

I went to BestBuy and asked them to transfer $390 purchase from BBRZMC to my Nordstrom Visa Card which I have $9K CL. So they BestBuy gave me credit of $390 on my BestBuy MC and transferred the purchase to Nordie. Now I have to wait and see if the credit posts in time before they cut the statment. Oh what ever happens in the end, I am not going to charge no more than $40-60 / a month on my BestBuy Card. I might use other cards at bestbuy or my bestbuy business card that has $15k CL. I dont want to the head aches with the hsbc low limit cards. I should have know better..
Message 5 of 7
RobertEG
Legendary Contributor

Re: How would BBRZMC would affect my score?

I know your pain, concorduser.  Fussing with those low CL HSBC cards is not worth it.

They give little in the way of increase in overall CL, and when monthly FICO scoring is done, it it based about equally on overall % UTIL,  and indiv card util.  It is easy for those low CL cards to present high indiv card % utils, and to also show a continued percentage of overall cards showing balances.

I ditched mine a long time ago.

 

Message 6 of 7
Red1Blue
Super Contributor

Re: How would BBRZMC would affect my score?

I'll wait for the renewal time to come and when they charge me AF, I'll close this card. Until then sock drawer this card. Too much head ache with these low limit cards combined with high AF.
Message 7 of 7
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