Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
Mernie123

0 Contributions
0 People Helped
buying a car with credit card
i will be purchasing a used car using a credit card i want to open for 10k will that destroy my credit score of 750?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3671 People Helped
Most Helpful Response

If you have a Credit score of 750

Helpful to 1 out of 1 people

Why would you ever want to buy a car on a credit card?  That is just crazy.  It would ruin your credit until that debt is paid down to $3000 IF you qualified for a $10K credit limit.

With your score, On-line you should be able to get an auto loan at 7% or less for 24 months so why on earth would you want to put it on a credit card. You might even do better than that if you walked into a bank.  Your score will take a little bump down of 20 or 30 points for a couple of months untill you started paying back the auto loan.  Make those payments on time and your score will  pop back up in a few months. 

Credit cards were not designed for long term debt. They should never be used for debt that you can not pay off in 2 to 3 months. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.