25 point drop from my creative auto financing But I expect a bigger drop

[AzCreditGuy]

So putting $35k on a credit card for a car and paying some it down to $28k, I expected a bigger drop in my fico scores, but due to my B of A CL being $62k, I am still only using 26% of that cards UTI. I do epect a bigger drop when $15k is transfered to my US bank CC which the UTI, will be at 60%. 0% APR for 8 months and a total of $750 interest will be paid vs what car rates at the current moment.  What do you think the fico drop will be after the US Bank transfer?

[Thomas_Thumb]

Interesting. Doesn't 28/62 equate to 45% utilization? Usually 29% and 49% are important milestones for card utilizations. Taking your highest card ut to 60% from 45% could drop score 15 to 20 points. What will you before/after aggregate utilization be and what % of cards will be reporting balances?

[SouthJamaica]

I'm not sure but don't most car dealers refuse to accept payment by credit card except for the down payment?

[AzCreditGuy]

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@Thomas_Thumb wrote:

Interesting. Doesn't 28/62 equate to 45% utilization? Usually 29% and 49% are important milestones for card utilizations. Taking your highest card ut to 60% from 45% could drop score 15 to 20 points. What will you before/after aggregate utilization be and what % of cards will be reporting balances?

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Currently some cards are paid down to zero but showing balances because of delays for not updating current balances....When it all settles in a month or 2 only US bank will show a balance and UTI be at 60% for that card but overall total credit UTI will be 11% ...I pay off the small balances for the other cards, so they dont show 

[AzCreditGuy]

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@SouthJamaica wrote:

I'm not sure but don't most car dealers refuse to accept payment by credit card except for the down payment?

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This one did and also charged me the 4% rate for it lol 

[SouthJamaica]

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@AzCreditGuy wrote:

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@SouthJamaica wrote:

I'm not sure but don't most car dealers refuse to accept payment by credit card except for the down payment?

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This one did and also charged me the 4% rate for it lol 

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Well I guess you have to factor that into the cost of this "creative financing".

[AzCreditGuy]

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@SouthJamaica wrote:

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@AzCreditGuy wrote:

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@SouthJamaica wrote:

I'm not sure but don't most car dealers refuse to accept payment by credit card except for the down payment?

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This one did and also charged me the 4% rate for it lol 

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Well I guess you have to factor that into the cost of this "creative financing".

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I did and even with the BT fee, delivery charge I am still ahead and theres no lien on the title