Question on Credit Utilization and FICO scores

[Anonymous]

I had a question I was hoping someone could answer for me.

 I am currently planning on buying a new LCD TV in the near future and right now

my credit utilization is at 7 percent.   I want to put the TV on my card and will be able to

pay it back down to 7 percent in a month.

During that one month my utilization is higher I know my points will drop but will they all come back

the following month when I pay it back down to 7 percent?

Would it be the same score as if I never raised the utilization?  I hope i'm making sense.

For example, lets say my EX drops from 735 to 700(purly speculating) because of the utilization,

but after I pay it back down, will it be the same score, lets say 741, as if I never utilized the card?

From my experience my scores seem to go up a couple points a month.  Just wondering if the end score

would be the same in 2 months if I utilized the card, and paid it back down to 7,  compared to just keeping it paid down to 7 percent showing.

Thanks for the help.

[marty56]

FICO does not keep track of prior util so when you pulled your credit report after the updated balance is reported, it would come up with the same score as if you didnt make the purchase and pay it down given that the util is the same.

IMHO for a big purchase, I would contact the CCC and let them know you are going to make a major purchase and when you expect to have it paid off.

[MattH]

---

@marty56 wrote:

FICO does not keep track of prior util so when you pulled your credit report after the updated balance is reported, it would come up with the same score as if you didnt make the purchase and pay it down given that the util is the same.

IMHO for a big purchase, I would contact the CCC and let them know you are going to make a major purchase and when you expect to have it paid off.

---

When I've made a big purchase without calling the CCC first, sometimes shortly after they will call my home phone to check whether I know about it.

[cobra19]

I would not necessarily say your score will be the same after as it was before - if I understand your question correectly. Other things happen in the meantime that influence your score. Your score fluctuates whenever a creditor reports anything.

[Anonymous]

Why not wait a month to make the purchase and never put it on your CC?

Unless it's for the Super Bowl - then I say you're making a wise decision.

[Anonymous]

Thanks for all the help.

My statement just reported on my BoA card and won't report again for full month.

I'm thinking of putting it on my BoA and then paying it down to 100 bucks before next months statement date.

And Yes it is for my finance's superbowl party.  =]