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Old 10-31-2009, 04:31 PM   #7 (permalink)
Moonlitebiker
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Join Date: Oct 2009
Location: Orlando
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Quote:
Originally Posted by junior_jam View Post
This is the reason why it's good to have high credit limits and use your credit wisely. This way, your total utilization percentage stays low.

For example, owing $5,000 on a card with a $6,000 limit is bad. Owing $5,000 on a card with a $25,000 limit is not. You owe the same amount of money but your utilization percentage is much lower.

Have you tried for PenFed's 3.99% loan?
I'm actually waiting to try them until mid week when I'm paid down. I can hit 15k a month on the card because I run a load of business through it to get the points, but I always pay it down every month. I just made the mistake of having them check my credit mid month. Won't make that mistake again!
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