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I'm a first-time renter; I recently applied for an apartment complex which I love, but which is also RIGHT on the outermost edge of my price range.
I know they'll be running a credit check and bank check on me early next week, on either the 20th or 21st.
My credit card comes due on the 21st, and the bill is about $2,000, much of which is for the deposit I put down on this place. I have roughly $5,000 total in checking and savings, spread out between two banks.
So here's my question. Assuming I want to look as good as possible without actually deceiving anyone, should I:
A) Pay my credit card early so it doesn't look like I'm $2,000 in debt (but which will also show that I have only $3,000 on hand), or
B) Leave the card unpaid until I hit the three-day grace period after its due date, so it looks like I have $5,000 lying around when I really have $3,000?
My credit's fantastic, and I have a very stable job. I'm just worried that no matter which way I play this, I'll either look like I don't have very much money OR I'll look like I'm indebted.
So what should I do here? Landlords, what would you advise your kids to do?
800 is what I would consider a "fantastic" Transunion score (Free Credit Score & Credit Report Data. No Credit Card Needed). If that is the case, just pay it as normal. Steady employment, great credit, ..they would be foolish to let you get away. Have you considered buying a place and having a smaller monthly outlay and an actual investment?
Pay your bills as you normally do, if you start "playing" with your finances now you won't stop and that can lead to tons of trouble in the future. You will either get the apartment or you won't and that is not your decision it is theirs.
I agree with the previous posters...why taking the risks of getting slammed with interest charges from your credit card company and it isn't even 100% sure if they will be able to see your account...
We run background checks all the time but only in a few cases will we ask for a bank statement...
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