How much could be the damage to credit score for holding a balance of $40k to credit card? | General financial discussion | Discussion forum

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How much could be the damage to credit score for holding a balance of $40k to credit card?
January 12, 2023
4:46 pm
butterflycharm
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How much could be the damage to credit score for holding a balance of $40k to credit card?

This will be the full limit of the card.

MBNA is offering a 3% fees with 0% AIR which brings about $776 gains if invested at 5% GIC. But is this worth it holding the scredit score hostage?

Could this backfire at mortgage purchase or getting other credit cards etc?

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