Worth the utilization hit

[Odiseous]

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@09Lexie wrote:
It was my understanding that the AF card did not have a 0% balance transfer feature. Admittedly, it sounds like that the rate would be better and I assume you would be doing a bt to pay off your existing bed. If you were using it to pay the bill, then that's another story.

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Based on the current offerings on Cap !'s website, this is correct.

However: there is no transfer fee for this card, and the APR is probably better than the loan.

[TimeToRecover]

I'm still in 0 apr so definitely lower

[codimom]

I would take the utilization hit, but make a plan to overpay your card so that you ensure you get it paid off before the 0% is over.  if you put it on paper, its easier to follow, in my experience anyway.

[LisaJ]

I'm in the same boat.  I have two more months interest free on my Ink, which is basically a hidden credit line.  I really don't want to take a hit to my util, but I have a few cards that have offered me no interest for 12 or 18 months...it's pretty tempting, but will impact my util.

[kroberts67]

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@LisaJ wrote:

I'm in the same boat.  I have two more months interest free on my Ink, which is basically a hidden credit line.  I really don't want to take a hit to my util, but I have a few cards that have offered me no interest for 12 or 18 months...it's pretty tempting, but will impact my util.

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Only temporarily though.

[NonSufficientFunds]

You've been paying $300 per month and still owe $2500 ? 

That must be one helluva nice bed !!

I tthink a balance transfer is the way to go - you have to get out of that usurious deal, at any cost. 

Don't worry about the utilization at the moment, but do your best to pay it down, before your account gets targeted for closure or reduction.

[TimeToRecover]

Temperpedic with ergo base. The base was the expensive part.

[TimeToRecover]

I am doing this. Called cap1 today and told them I was doing a large charge today or tomorrow. Prevent a flag or alert. It kinda scares me I haven't carried. Balance since I started back on my recovery

[Creditaddict]

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@TimeToRecover wrote:
I am doing this. Called cap1 today and told them I was doing a large charge today or tomorrow. Prevent a flag or alert. It kinda scares me I haven't carried. Balance since I started back on my recovery

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What is balance? you are paying it completely off right?

You only have Cap1 and VS and this terrible mattress card?

with scores this much higher, you should add some more cards.

[TimeToRecover]

HAHA as impatient as I can be I have learned to wait in these situations.    I have a paid fed tax lien that I am waiting on my withdrawl forms to get it removed.  Won't even consider looking for another CC till that is removed.  So looking at end may for that process to finish up and be fully removed.  I don't want to apply for anything with that still there.  Although I may get approved it would probrably affect the CL set.

I am still in my 0% for several more months.  So the only hit will be to util for a month or 2.  I will have it paid off in 2 months.

The mattress was not on a CC it was a loan so once its paid it can go away and look good on my one CR it reports to until it goes away in 10 years.  LOL.

When if found this I was planning for my next 2 year financial plan.  So I will app for 1 card and 1 card only after the lien is gone.  either BOA since I bank there or Amex cause I travel every week for work (only not everyone accepts Amex) or chase freedom.  either way my 1 and only app will be apped to a prime lender.

Then NOTHING till late next year cause I am going to venture back into the home ownership world.  My plan is to start talking to LO's in December with a plan to get Fully qualified or approved state (whichever one is the definite) then do some home shopping and be in a new house next spring!  IE I will NOT do any apps other then 1 I plan to do when the lien is gone!  

Thus   for me waiting is a necessatity.