Impact of maxing credit card out to save?

Jlawson118

Between all of my credit cards, my credit limit is just around £60,000 between five cards.

My highest credit limit is with Barclaycard at £17,000 with £0 balance, and I currently have an offer of a money transfer with 0% for 18 months with no fee. And I'm debating taking £15,000 and saving this between various savings account for the interest (Not that there's a wide range at the moment but I still have a few fairly decent rates), easily available to withdraw in emergencies to pay the card back off. And over the 18 months I intend to pay the minimum payment each month, plus extra if it's there.

Now my issue would be how this would potentially affect my credit report. Now the credit utilisation would be 88% on that one card, but about 21% between my whole credit limit. My overall report is clean, no CCJs, no missed payments, a few hard searches from switching energy suppliers and my remortgage in Autumn/Winter just gone

But I'm curious as to how this would affect me obtaining future credit. Now I've recently completed a remortgage and tied into a 2 year deal so I'm settled on that front, I have no plans to obtain further credit cards although I am contemplating car finance in a few months. This will either be finance or potentially a standard loan depending on the interest rates when it comes to it.

How much could one maced out card affect my overall report for future lending?

[Deleted User]

As it's on a promo and your overall utilisation us ok, it needn't concern lenders, apart from the large amount owed itself.

That will be sufficient to make your future borrowing problematic to get a decent rate.

For the interest rates available, I wouldn't bother.

Retiredwelshman

Would you be able to readily afford the minimum payment on the card?
Why not just put the minimum that you would have to make in a savings account of your choice now?