I'm currently rebuilding my credit report and I recently got approved for an Amazon store card and want to take advantage of no interest for 6 months. 
I currently have 3 revolving cards total for a whopping $1200 total credit. I want to buy a laptop that is $480 which will put me at around 40% utilization. I am going to divide the laptop payments into 4 months because I've read GEMB usually gives CLI's after the 4th statement cuts.
My concern is if this will hurt my credit report long term. I'm not worried about my score right now or while I'm paying the laptop back because I wont be applying for any more credit during this time. However, once my util gets back to 0% will my score go back to normal and perhaps increase due to positive age or will I be red flagged for a long while because I carried a balance over 10% for too long?
Thanks guys.
@Anonymous wrote:I'm currently rebuilding my credit report and I recently got approved for an Amazon store card and want to take advantage of no interest for 6 months.
I currently have 3 revolving cards total for a whopping $1200 total credit. I want to buy a laptop that is $480 which will put me at around 40% utilization. I am going to divide the laptop payments into 4 months because I've read GEMB usually gives CLI's after the 4th statement cuts.
My concern is if this will hurt my credit report long term. I'm not worried about my score right now or while I'm paying the laptop back because I wont be applying for any more credit during this time. However, once my util gets back to 0% will my score go back to normal and perhaps increase due to positive age or will I be red flagged for a long while because I carried a balance over 10% for too long?
Thanks guys.
FICO scoring has no memory and is simply a snapshot of your credit at the time your score is pulled. There will be no long term damage from what you are proposing IMO.
From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772
You can do the same thing with hard work
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Alright thanks. I found a better deal today for one that was out of stock last time I checked which was only $410, so I went ahead bit the bullet.