07-24-2013 06:25 AM
I spent some time searching these forums and I did not find anything relating to my question...
My family and I bought a house a little over a year ago. Around that same time we purchased some furniture and we financed through Wells Fargo. We are in process of paying off a lot of the furniture debt that we accumilated and my question is this... Does the Wells Fargo Furniture loans count against my overall utilization? I'm hoping that it's not the case since if you ask for 3k then they give you 3k, which means your maxed out almost immediately, and I know it's not good to max out any one account. But can you let me know please. I'm trying to figure out if we should pay down CCs first or Wells Fargo Loans first (which has 12-24 month 0% apr promos).
Thanks so much for the help and guidance.
07-24-2013 09:30 AM
That would depend, is the WF a revolving account? If so, it would count against your util, if it's an installment, then no.
07-30-2013 06:21 PM
I finally figured out that the WF accounts were open revolving accounts. I guess Ill pay them off then. Thanks for the help. Much appreciated.
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