That I do know about, as played that "ping pong" with my new windows doing a transfer.
I had financing from the window company at 10% and found a Suntrust card for 3.25% for 3 years and 0 transfer fees. I opened the SunTrust (points went down) paid off the windows (points when down for paying off and closing that account) and then maxed out the Suntrust (points went down again). I took a huge hit doing all of that, but it saved me a ton of money and paid the windows off in 8 months.
The good thing was I was paying about $1,000 a month on the Suntrust, which showed really well thereafter monthly getting that balance down. It took well into 3 months to recover from all of that, plus the additional 2 years for the inquiries which still are sitting there.
For the mortgage, that is out of my control. I am contesting the hit on my credit from a closed account to a transferred account. I was finally back at exceptional FICO and now at the Very Good Fico. I am not fo=inancing anything any time soon, but I do watch that number daily and hurts me when these games are played. |
