funnybunny wrote:Provided that I pay the minimum required amount monthly, on time and have sufficient funds, what will happen to my credit score if I don't pay off the full balance monthly? I will, however, pay the full balance prior to the ending of the promotional 18 month period. So, does this tarnish my credit score? I won't use cash advance.
Paying minimum during 18 month free interest will affect your credit score just a little bit (given the fact that high balance lower your debt-to-credit ratio). Having said that, it does not mean that the effect is outrageous. Considering you have total credit limit of 100k, then 10k balance won't ding your credit score much. It will be different if your total credit limit is 15k, and you have 10k balance.
However, this is temporary and you should not worry too much, unless you are trying to apply for car loan, or home loan. Stay away from credit cards if you plan to apply some big loan in near future.
Paying full balance before the period won't have any effect.
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.