CREDIT CARD QUESTION

[MR. SNIFLES]

SO I GOT CAUGHT WITH MY PANTS DOWN FINANCIALLY. I NEED 4K TODAY FOR AN EMERGENCY. I CAN'T SHIFT THE MONEY INTO LIQUID CASH UNTIL TOMORROW. I CAN COVER IT ON MY CREDIT CARD AND PAY THE BALANCE TOMORROW BUT I NEED TO KNOW HOW HARD THIS WILL HIT MY CREDIT SCORE. THAT'S LIKE 80% OF MY LIMIT.

I'M TRYING TO SHOP A LOAN FOR A HOME RIGHT NOW SO MY CREDIT SCORE IS A BIG DEAL TO ME.

 

[OfTheCross]

It won't hit your credit score at all if you pay it before the end of the statement date

 

[Clark Wayne]

It won't hit your credit score at all if you pay it before the end of the statement date

This.

 

[intruder]

It won't hit your credit score at all if you pay it before the end of the statement date

^^THIS

Credit Bureaus only check balances at an interval. If you can cover it within a week or two they probably wont detect it.

But then again their intervals dont match among the 3 bureaus. I ha ve monitoring service with 2 of the 3

 

[MR. SNIFLES]

It won't hit your credit score at all if you pay it before the end of the statement date

MY SCORE IS EFFECTED BY MY UTILIZATION TOO. I'M JUST NOT SURE HOW THEY MONITOR THAT. I'VE NEVER PUT A BIG PURCHASE ON MY CARD BEFORE. I JUST KEEP IT FOR EMERGENCIES AND TO PAY MY SMALL BILLS. THERE HAS NEVER BEEN MORE THAN 1K AT ANY GIVEN TIME ON MY CARD. I'M JUST WORRIED ABOUT THE SCORE.

 

[MR. SNIFLES]

^^THIS

Credit Bureaus only check balances at an interval. If you can cover it within a week or two they probably wont detect it.

But then again their intervals dont match among the 3 bureaus. I ha ve monitoring service with 2 of the 3

OKAY THIS IS WHAT I WAS WONDERING ABOUT. THANKS BREHS.

 

[TL15]

Need more info...

If you have the 4K to cover it, just not liquid, within a week or so you'll be fine. You're panicking more (it sounds) because of the situation needing the 4K but shifting your worry to the credit score which won't be affected if you have the 4K to cover the immediate pull from the card

 

[PeridotPuss]

Yes you can even call and ask when they report to the bureaus, if the balance is paid off prior to it being submitted to the credit bureaus it will not affect your score.

Also, you score will actually go up even more if you let that 4k sit for a month,let them report it to the bureau, and THEN pay it off in full. You've established a history of paying large sums in full on time. You have options.....don't stress.

 

[MR. SNIFLES]

Need more info...

If you have the 4K to cover it, just not liquid, within a week or so you'll be fine. You're panicking more (it sounds) because of the situation needing the 4K but shifting your worry to the credit score which won't be affected if you have the 4K to cover the immediate pull from the card

NAH THE 4K THING WAS AN OOPS. IF MY SCORE WON'T BE HURT THEN I'M NOT TRIPPING.

 

[Larry Lobster]

Be broke and make it rain in the club brehs.

 

[MR. SNIFLES]

Be broke and make it rain in the club brehs.

BUT I GOT COLI CASH THOUGH.

 

[Yoda]

BUT I GOT COLI CASH THOUGH.

's all u need my friend.

 

[newarkhiphop]

Your home loan bank is going to ask questions, I was in the same exact situation, with a regular old debit card took out $5,500, put it back within a week


Months later when I was getting a home loan they was asking questions about that transaction, had effect on my credit score which I monitor heavy but just a heads up that they will ask

 

[MR. SNIFLES]

Your home loan bank is going to ask questions, I was in the same exact situation, with a regular old debit card took out $5,500, put it back within a week


Months later when I was getting a home loan they was asking questions about that transaction, had effect on my credit score which I monitor heavy but just a heads up that they will ask

OKAY THANKS.

 

[Fun Sized Psycho]

@MR. SNIFLES did you know that typing in all caps is considered yelling?