My scores are going to take a hit for a couple of months but there’s a trade off!

DWQA QuestionsMy scores are going to take a hit for a couple of months but there’s a trade off!
loripkingsoftwil asked 4 years ago

I have worked so hard at getting scores up and credit card balances down, Im getting alot of credit card offers I was considering, but then we went truck shopping! I decided credit wise, this was best for me and my situation..

 

Instead of paying my balances down to 10% on the rest of my 3 large cards and pay my other balances off to PIF as I had been, I took the cash and bought me new Truck!! I couldnt see any sense in paying off my car of 11,000.00 and putting 10,000.00 down and add a bunch of inquiry’s to finance this, and still have a car payment when I could just pay cash and have 0% and no inquiry dings.  My scores will tank short term, but I will have the cash in 60days or less to pay all my cards back off and still drop to 10% on the others like I wanted to. I’m not financing anything for a while yet so I have learned its ok , Fico has no memory and I will bounce back and be ok.

But I have to admit, my balances are almost ready to start reporting and its an anxiety rush to know they are not PIF!!  But its ok!

I now have alot better handle on finances thanks to all the help and support I have gained from the forums and all the wonderful people willing to help share the information the has got me here! 

 

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