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Lost 9 points for carrying a balance on a card?

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Money Talk > Personal Finance

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ygrey
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Lost 9 points for carrying a balance on a card?  Reply with quote  

I've just checked my credit score through CreditKarma and apparently my score went down 9 points!

The only thing that changed was I started carrying a balance on a credit card (at 20% of total credit now), because the card has 0% APR on balances for a year, and I can use money I would otherwise be using to keep the balance at 0 on things which have interest rates, e.g. student loans.

I haven't gotten any new lines of credit, and I've made all my payments on open lines of credit on time.

Does this sound correct?
Post Tue Jun 07, 2016 8:58 am
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littleroc02us
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30% of your score is based on your balance to limit % and 20% is a lot IMO. If you pay off your balance every month your score will go up.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Tue Jun 07, 2016 7:42 pm
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