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staticjacket

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Looking to get a Balance Transfer card for studen loan, what % of the card's limit should I use up?
I'm trying to build credit as well as save money (I'm sure I'm in the majority there!). So I'm looking to get a balance transfer card. Will putting 30% of my credit limit on the card be worth the money saved on interest for the cost to my credit score?

Thank you in advance for your advice.

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Damage from high credit card utilization is not permanent, the damage will subside as you pay the card down. You need to ask yourself which is more important to you at this time, saving money or maintaining a good credit profile. How fast could you get this paid off? Will you need to apply for credit in the time before it is paid down or paid off? These are questions that you need to ask yourself.

Top Contributor
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I forgot to add, make sure to do some investigating before applying for a card. Will the company of the balance transfer card issue checks to pay off the loan? Double check all of this before applying for a card. Typically credit card balance transfers are for credit card to credit card, so make sure there will not be any issues.

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