Quote:
Originally Posted by PJM44
Thanks "therewego," for the link. It looks like approx. 400K with the conservative estimate. Another quick question, how is "monthly debt" determined or viewed? What I mean, not counting our current mortgage, the only other loan is on one vehicle. We put everything else on our credit card to take advantage of the cashback bonus and not having to carry cash. We've always paid the card off in full each month, though have had rather large bills due to the materials we've brought over the last few years upgrading our current house. Will this have an impact? If so, would it be best not charging everything we buy? Thanks to anyone that can help. I don't want to get to our heart set on thinking we might be able to buy the house we want, and then find out putting all of our purchases on the credit card was a bad idea. If so, I'll start buying more with cash and checks. Thanks for any input.
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To keep your credit score high, obv pay on time and I wouldn't go above the "40%" rule in terms of revolving credit. If you're constatnly carrying high balances (in terms of debt/max limit ratio) this could potentially lower your credit score.
I've asked my cc company to raise my limit so I could stay comfortably under 40%.
Also, congrats on using a cash back cc. (I use AmEx blue and its basically free money I get back at the end of the year.)
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