Will FICO score be affected neg or pos?

[Anonymous]

I'm thinking of paying of my car loan (4000) with my credit card, 1% APR.  This will save me $ on interest cost but wondering what it'll do to my score since I'm maximizing my bank credit card.

[marty56]

Score will drop since your increased your utilization on the card.  If you are using Score Watch, the simulator will give you an idea of how much it might drop.  As you pay the balance off, your score will go back up and it might wind up higher then it was before.

Message Edited by marty56 on 11-28-2007 03:05 PM

[Anonymous]

I agree. Your increased utilization will drop your scores.

IMO a small price to pay, for saving you mucho dollars.

IMO, it's a justified move, IF you do not go over the cl.