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alexcliu

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How much will my credit score be affected by carrying a balance on a 0% interest credit card?
I recently bought some things from Best Buy, and put it on a 0% 3 yr card. I have the financial means to pay in full, but figured it wouldn't hurt to pay it out over 3 years (inflation right?)

In hindsight, this seems like a red flag to creditors as it's a credit card and not a "loan". It's a balance of $3K, does that mean every month my balance will be reported as $3K + whatever my other regular credit card expenditures? In short, credit rating agencies won't know that it's a 0% card (or don't care), and merely see my utilization ratio increasing due to my carrying a balance.

What kind of effect will I see on my credit score? I currently have an excellent rating, 750+. I would prefer to keep it there, and am curious how detrimental it would be to carry this balance.

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