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Message
re: Financing a purchase via 0 interest credit cards
Posted on 1/31/16 at 1:22 pm to AmeriKop45
Posted on 1/31/16 at 1:22 pm to AmeriKop45
quote:
The downside is that your utilization will be too high.
That's only a factor if he plans on buying a house soon. Other than that it wouldn't negativity affect him. Assuming he already has a 700+ score of course.
1
Posted on 1/31/16 at 1:44 pm to Big Saint
quote:
if he plans on buying a house soon.
No
quote:
he already has a 700+ score of course.
Yes
My utilization rate is usually anywhere from 0-15%, depending on when the report is run, and I've never carried a balance. Don't they aggregate all credit limits and utilization to determine your rate? So if for example I am currently utilizing $5k of $65k, my UR is 7.7%. If I were to get a CC with a $25k limit and put $20k on it, that would bring me up to 25/85, or 29.4%.
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