Citibank Credit Card Promotin 1.99%

[jp]

I received a promotion for 1.99% for all purchases till August 2019.
Does keeping an going unpaid balance on a credit card ruin one's credit even though I will be making the interest payments?

[12HRS]

I received a promotion for 1.99% for all purchases till August 2019.
Does keeping an going unpaid balance on a credit card ruin one's credit even though I will be making the interest payments?

it will show up on your report if its a personal card. it depends on how much the balance is in relation to your CLs. There are cards offering 0% out there if you want.

[jp]

Will it lower my credit score? Any different than an outstanding Home Equity balance?

[yoshyosh]

Ask them, depends on how they will report it, but will not show as paid in full.

[jp]

I have a strong hunch that the customer service rep at Citi won't know if it effects the credit score.

[chbochur]

I received a promotion for 1.99% for all purchases till August 2019.
Does keeping an going unpaid balance on a credit card ruin one's credit even though I will be making the interest payments?

As long as you put in the minimum payments every month and spend less then 30 percent (not an exact number) of your credit line you'll be fine. If you spend more then 30 percent  the more you spend the higher the impact on your credit score.
And as others mentioned there are cards that offer zero apr for allot longer, which is cheaper and a longer term. if you're worried about your credit score then you can even get a business card with zero apr that will have longer then nine months and won't show on your credit report even if you max it out.

[jp]

I prefer not to open a new card even though they are offering 0%. Rather use a current card with the 1.9% offer

[LoLo]

Some of your existing cards may have a 0% apr offer, call and ask.

[jp]

Does it make a difference for my credit score if there is an opening balance on a home equity or an opening balance on a 0 or 1.9% on a credit card?

[S209]

Does it make a difference for my credit score if there is an opening balance on a home equity or an opening balance on a 0 or 1.9% on a credit card?

How much money are you talking? And why not open a new business card? The BBP offers 18 months with 0% APR and will not show on your credit report.

I bought a condo with money from my BBP. Going to need to cash-out refi now to pay it back.

[jp]

Thanks for the advice.
I will look into it.

Besides that, I was wondering if an outstanding home equity balance lowers one's credit like a an outstanding credit card balance. I could see the difference - one has collateral while the other doesn't.