What if I only pay the minimum due?

[stone]

Will this have bad impact on my CC such as the chance of get a CLI later? I know that only pay min due will increase the util% on my report but I will try to keep it below 10% and I just want take advantage of 0% APR promo rate offer from the CC.

[pizzadude]

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@stone wrote:

Will this have bad impact on my CC such as the chance of get a CLI later? I know that only pay min due will increase the util% on my report but I will try to keep it below 10% and I just want take advantage of 0% APR promo rate offer from the CC.

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It really varies by creditor, but in general, they like it when you pay them interest.    However if you are maxed out for a long period of time it can start to make them nervous.

[Brian_Trying_700]

Happened to me when I was asking for a CLI. They said why am I holding a balance and I said because I though the banks like that. I said ok I will PIF right now and what do you know. I got a cli.

[Anonymous]

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@stone wrote:

Will this have bad impact on my CC such as the chance of get a CLI later? I know that only pay min due will increase the util% on my report but I will try to keep it below 10% and I just want take advantage of 0% APR promo rate offer from the CC.

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Not a problem at all.   I have made use of several 0% deals at close to maximum CL.   Of course I don't apply for any new credit during those times.

They like it when you pay the minimum because there is a good chance you will not PIF when it expires and start paying interest.