23% Utilization Impact on My Credit Scores Question

[Anonymous]

I'm planning on a big purchase my scores are 750EQ 750TU 730EX. I was planning in utilizing %23 of my line and wanted to see if anyone could tell me what the impact would be on my scores? I'm planning in paying it off in 12 months.

If anyone has any suggestion about good cards with very little FIXED APR please let me know.   

Message Edited by ddd on 01-15-2009 01:45 PM

[oracles]

no one really knows, they can only speculate, however i have heard 1 point for every percentage. Also it depends on what bucket you are assign to. It seems with scores like that, you are in a good bucket.

Therefore i would say 25 point drop.

Keep us posted and let us know

This would be very helpful to some

[Creditaddict]

Bank of America offers 0% for 12 months on most of the cards they have.

and if you get a new card, your util would be even less probably and have less impact.

[Anonymous]

Thank You both I need this money for surgery I'm already freeking out about surgery. Now I have to worry about all this other stuff.

[Creditaddict]

Do they take Carecredit?

[oracles]

Your health is much more important than your Fico score. Forget thinking about this and worry about your health only. You can come back to this afterwards.

[Anonymous]

I agree your health is more important than worring about FICO scores,  however Proper Prior Planning can stave off a near term credit disaster,or worse.

Not to pry, but  how much are you talking about and how are you planning on div'ing out that 23% UTL, -Spreading it out over 3 or 4 cards or just one? -  FICO scoring will hammer you a lot harder for having too many cards with balances, rather than having one seemingly large balance on one card.  I'm carrying about 7-K on a CapOne Card (11,5 CL)  and my scores are above 740.   I'm not showing any other cards reporting a balance on my SW EQ score,

Fixed rate credit cards have pretty much gone extinct.   I've seen others post they have fixed rate cards with various major issuers but I think the've likely had those cards for quite sometime, Or have uber-prime credit.

Merrill Lynch offers a 9.9% fixed rate,  The FAA First CU offers a fixed rate card, Hummm, Interesting, it was advertised at 7.9%last month,  but they've raised it to 8.9% as of last week. 

BofA and CITI are currently advertising some pretty low rates on their basic cards, I got the CITI Diamond Prefered last fall and the current VPR is 6.99%, (0% for the 1st 12monhs) I got a 6,800 limit and was DENIED a CLI when I called to activate it.  Given CITI's current credit state I'd guess they aren't likely to giveout a large CL unless you have a LARGE yearly income.

BofA's basic VISA is advertised 0% for 15-months and 7.9% VPR after.  Wells Fargo has another fairly low VPR but I don't know what tyoe of CL WFC gives out.  CapOne also has a low VPR card,

 Good luck and I wish you a speedy recovery,

[Anonymous]

cool

[CreditAble]

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@Anonymous wrote:

 I was planning in utilizing %23 of my line and wanted to see if anyone could tell me what the impact would be on my scores? I'm planning in paying it off in 12 months.

If anyone has any suggestion about good cards with very little FIXED APR please let me know.   

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Chase allows you to deposit a BT check into your own checking account. The check is sent to you with the Chase "Welcome Package".

0% for 12 months might be just what the doctor ordered. (sorry I couldn't help it).

Best wishes and speedy recovery. 

[Anonymous]

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@Anonymous wrote:

I agree your health is more important than worring about FICO scores,  however Proper Prior Planning can stave off a near term credit disaster,or worse.

Not to pry, but  how much are you talking about and how are you planning on div'ing out that 23% UTL, -Spreading it out over 3 or 4 cards or just one? -  FICO scoring will hammer you a lot harder for having too many cards with balances, rather than having one seemingly large balance on one card.  I'm carrying about 7-K on a CapOne Card (11,5 CL)  and my scores are above 740.   I'm not showing any other cards reporting a balance on my SW EQ score,

Fixed rate credit cards have pretty much gone extinct.   I've seen others post they have fixed rate cards with various major issuers but I think the've likely had those cards for quite sometime, Or have uber-prime credit.

Merrill Lynch offers a 9.9% fixed rate,  The FAA First CU offers a fixed rate card, Hummm, Interesting, it was advertised at 7.9%last month,  but they've raised it to 8.9% as of last week. 

BofA and CITI are currently advertising some pretty low rates on their basic cards, I got the CITI Diamond Prefered last fall and the current VPR is 6.99%, (0% for the 1st 12monhs) I got a 6,800 limit and was DENIED a CLI when I called to activate it.  Given CITI's current credit state I'd guess they aren't likely to giveout a large CL unless you have a LARGE yearly income.

BofA's basic VISA is advertised 0% for 15-months and 7.9% VPR after.  Wells Fargo has another fairly low VPR but I don't know what tyoe of CL WFC gives out.  CapOne also has a low VPR card,

 Good luck and I wish you a speedy recovery,

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Thank you for your help in advance. I have to look past surgery and make sure my finaces are in order. I will be charging $17,000 out of like 92K in all my cards. The 17k will come out of one card. The best option I have right now is having 17k transfered to my cheking account paying $99.00 Fee and getting a fixed 6.99 APR. What suggestions do you have for me?