10k purchase will help Fico if paid within a month?

[Anonymous]

I have a medical surgery and have money in my checking but have credits limit to cover? Is it better paying it off througg ACH/Debit Card or use my credit card and pay it off within a month increase FICO score or could it improve also my credit history, or it won't matter, since it's all about credit utilization (30%)

Thank you! 

[AllZero]

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@Anonymous wrote:

I have a medical surgery and have money in my checking but have credits limit to cover? Is it better paying it off througg ACH/Debit Card or use my credit card and pay it off within a month increase FICO score or could it improve also my credit history, or it won't matter, since it's all about credit utilization (30%)

Thank you! 

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It won't necessarily help your FICO score. FICO score may temporarily suffer if reported utilization is high.

Do you have a cash back rewards card? You could get a certain percentage back.

You're showing your lender that you can manage credit, spending and paying the debt. Building that history with the lender.

You have credit card float.

You may or may not have credit card protection.

[Anonymous]

I have AADvatange miles but it's just going to be 10k worth of miles? What do you think??? I travel miles mostly... 

[AllZero]

Any rewards would be better than zero rewards.

[Anonymous]

Agreed, I use CC all the time for this. It's even better when I have a BT offer to float that for 12 months, rather than taking out of savings.

There are no rewards when paying in cash, unless perhaps the Hopsital offer a cash discount. But 10K miles is a free trip somewhere!

And if you haev the cash to pay for it, you can immediately pay it back/down to avoid any UT penalty.

[K-in-Boston]

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@AllZero wrote:
Any rewards would be better than zero rewards.

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A motto to live by.  Charging it and paying it won't directly affect your scores in a positive way, but it could certainly help with showing lenders that you can responsibly handle a high balance and pay it off.

[Anonymous]

That’s right it could help you get a CLI! Plus rewards!

[Anonymous]

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@AllZero wrote:
Any rewards would be better than zero rewards.

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I'm general I think most of us would agree with this. However if they charge a fee to use a card that would be more than your rewards, it's not worth it in my opinion 

[Anonymous]

Which is why the cash option is always cheaper. 

One simply has to decide whether the fee is worth the points, which you'ld also be earnining points on the fee too as they include it in with the charge. However, if their fee is a bit excessive on ecould always use Plastiq at 2.5% and still eanr the points.

[AllZero]

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@Anonymous wrote:

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@AllZero wrote:
Any rewards would be better than zero rewards.

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I'm general I think most of us would agree with this. However if they charge a fee to use a card that would be more than your rewards, it's not worth it in my opinion 

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OP didn't state the CC parameters. If there were CC fees, I would agree that it may eat away the rewards.

One could also ask if there was a cash payment discount too.