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I do have TL: $51,000. Planning to take advantage of my 0% APR of my 3 cards, but going to pay it off within 3 months. I might carry $5000 balance, do you think it will hurt my score?
The act of carrying a balance will not damage your score anymore than just simply having the utilization report.
@Anonymous wrote:The act of carrying a balance will not damage your score anymore than just simply having the utilization report.
I usually have only below 5% Util. 3 revolving cards. Is that fine?
@Anonymous wrote:Do you think it will hurt my score?
Such low utilization won't hurt your score.
But the bigger truth is a loss of a few points doesn't matter in the long run if you are not apping for new credit cards.
Credit score is just a number...you build up your credit so you can use that number to get better deals (ie. 0%/low APR deals, cashback bonus, etc, etc)
What is the point of getting good credit if you are so afraid of your score you can't take advantage of the good deals?
So don't worry so much and enjoy using your credit...especially on nice 0% deals
@Anonymous wrote:
@Anonymous wrote:Do you think it will hurt my score?
Such low utilization won't hurt your score.
But the bigger truth is a loss of a few points doesn't matter in the long run if you are not apping for new credit cards.
So don't worry so much and enjoy using your credit...especially on nice 0% deals
Yes thank you! But I just apped for refinancing from Penfed, and BOA travel rewards. I got tempted with that card because I bank with them and they offer me 20,000 pts, 0% APR for 12months, after spending $500 within 90 days. They give me $3k limit tho.
@ddemari wrote:
A 5100 balance on 51000 is nothing. I am carrying a balance on several cards because i am not playjng the statement cut game. I just pay in full when due. If u got a 51000 SL on a card u are in great shape. Enjoy and reep the benefits of a job well done.
Not in 1 card, I mean my total limit for all of my cards
5k being 10%. No will not hurt. Only changes 1-3 points even 11-14% util