troyce1 Tracker

Re: HHGregg Credit Card dilema

troyce1 — Fri, 05 Oct 2012 05:28:40 GMT

@Bichonmom - Thanks for the idea. I saw there was a phone list somewhere here for all the CC companies. I will try that with HHgreg on that number.

@James - How would in 6 months that make my score possibly "better" ?

Thanks for the input everyone

Maxing out Credit w/ 0% Balance Transfers & No Interest CC's

troyce1 — Fri, 05 Oct 2012 05:16:24 GMT

Hi, my wife and I are currently in the process of getting ready to do some upgrades to our home.

We are already floating some of the purchases on interest free Home Depot and Lowe's CC's as well as put alot of items on a CC with a promotional 0% APR.

We have the the majority of the money needed for the project (including the items that are being deferred), but are looking to keep cash free for contractors and materials, as to not run ourselves to thin. I understand that many people would say this is risky to some extent, which I agree that for many people it could be, but we have done this before for 2 other rehab projects we did, and it worked out great.

My question is we would like to refi our house once we are done with the renovation, which I am hoping is 3-4 months from now.

I am wondering how much carrying the debt , temporarily will reduce our credit scores, which are both in the high 700's currently.

Most of the debt is currently in my name, as my wife is finalizing another refi on our previous house, which is now rented and we wanted to keep her CC balances zeroed.

I assume that we will have to pay off all the debt prior to refinancing the house, but I am wondering what if any long term impact it could have once we pay it off, so that I can prepare to mimize any affects that would affect our interest rate on the refi.

Should we keep it all in my name during the process so that it does not affect her score at all prior to the refi?

Any input advice is appreciated.

HHGregg Credit Card dilema

troyce1 — Thu, 06 Sep 2012 04:07:02 GMT

My wife and I had been shopping around for appliances over labor day weekend, trying to find the best deal, and getting someone to do a "price match" + 10% type deal that alot of the stores do.

We went into HHGregg several times, and spoke with the sales person, who said they would match and then beat the lower best buy price by an additional 10%.

After finally going to pull the trigger, I was going to sign up for a HHgregg card to "float" the purchase for 24 months, since we have multiple other remodel projects going on. The associate had me fill out the paper work and approved me for the HHGregg card for $5,000, however after completing the signup, the associate said that Best Buy is liquidating their inventory, so its considered a clearance item. They refused to beat the price, only to match it. We discussed the price match specifically throughout the weekend, so there should have been no prior miscommunication.

I walked out of HHGregg on principle, as I felt they figured I would just "go along with the purchase" now that they signed me up for the card. We then went to Lowe's where they said the same thing about Best Buy, but after some discussing we got things worked out, and got the items at the prices we wanted. I signed up for a Lowe's card also, to get the deferred financing, which is fine since I am utilizing it, and will use it at Lowe's. Lowe's, however, didn't sign me up for the card until after everything was invoiced, where as HHGregg put all my stuff in beforehand and I feel like they tried to sucker me in.

I am PISSED about this HHGregg card. The inquiry has not shown up on my Bank of America Privacy Assist yet, but I am waiting for it to. I am pissed because they signed me up prior to the price being finalized, and after the disagreement they said there was "nothing they could do" since the card had already been approved. I called GE Capital also, and they said they couldn't do anything?

Is their any recourse I have with either HHGregg or GE Capital? My credit scores are 765-795 between the 3, but after getting signed up for the HHGregg card, and then the Lowe's card as well, I of course would have much rather not have had the HHGregg inquiry/signup as I am looking to refinance in about 3-4 months and want to have as high a score as possible.

Is there anything I can do?

Any input is appreciated!