Question about paying for application fees

[nossdt]

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Let's say applying for ~20 schools so your application fees come out to ~$2000. The problem is your credit card limit is only $1500. Can you pay for a part of your application fee, pay your credit card real quick, then pay for the rest? Or do you have to pay for the whole thing upfront?

 

[sjv]

You can add half the schools and pay the fee for half. Then pay off your credit card, add the remaining half and pay again. Otherwise, it asks for full fee.

 

[Daneosaurus]

Not to hijack but I feel this question is relevant:
What is the common way to finance applications (and interview, secondary fees, etc)? I always I figured a loan, but maybe credit cards do make sense (dat APR doe!)

 

[Glimmer1991]

Yep. If you go and add schools later, you will still get the reduced rate for applying to multiple schools.

 

[sjv]

Not to hijack but I feel this question is relevant:
What is the common way to finance applications (and interview, secondary fees, etc)? I always I figured a loan, but maybe credit cards do make sense (dat APR doe!)

There are many cards with an introductory APR of 0% for 12-18 months.

 

[Glimmer1991]

Yeah, Discover is typically running some 12 or 18 month 0% APR deal. Check that out!

 

[distressstudent]

Does aadsas not accept debit visa? If you have enough money to pay for apps, but credit card limit is the only issue, why dont you just use your debit card?

 

[nossdt]

Does aadsas not accept debit visa? If you have enough money to pay for apps, but credit card limit is the only issue, why dont you just use your debit card?

They probably do, but I'd rather pay for something like this with my credit card to at least accrue some some points.

 

[distressstudent]

That's going to kill your credit score though...

 

[sjv]

That's going to kill your credit score though...

No, it won't.

 

[Glimmer1991]

That's going to kill your credit score though...

No... Why would it?

I put large charges on my card all the time and just pay them off.

 

[Daneosaurus]

That's going to kill your credit score though...

As long as you keep total utilization between 10% and 30%, you will actually improve your credit score.

 

[customx]

Even if you nearly max out out a card and pay it off immediately, cc companies look at your utililization ratio, as do the credit reporting agencies when determining your fico score.

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[DentalDoge]

pay them off.

That's the part people don't do and it tanks their credit. But yeah, just pay it off and you'll be fine.

 

[distressstudent]

Oh I was told my bank guy that doing so was a bad idea. TIL I guess

 

[sjv]

Oh I was told my bank guy that doing so was a bad idea. TIL I guess

I suggest reading reading how credit scores are calculated.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx