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djake13

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Credit card with 0% vs credit utilization factor.
My credit utilization was great until I purchased furniture with 0% for the next five years. That is a terrific rate but it flipped my utilization ranking. Now I show an account with a 77% utilization. How can I correct this and still take advantage of the great 0% offer?

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WOW!! 0% for five years is quite the deal!!  Just work on getting the account paid in full within the five years so you can benefit from the saving on interest.  The utilization rate will decline as you pay the account off. Actually, since the majority of people given such an offer fail to pay it off in the given time, the store will make it up when the 'regular' interest rate (usually quite high--over 19%) is charged. Don't be so overly concerned about  the current utilization rate since it should be temporary and decline monthly with payments.

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