Jared financing or AmEx ED 0%

[Anonymous]

All over 720 no baddies. Few more specifics in first post. Only real thing holding my back is recent inquiries and AAoA. 4 Inq  From auto loan shopping over a month ago and 4 from cards

[Anonymous]

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@Anonymous wrote:

All over 720 no baddies. Few more specifics in first post. Only real thing holding my back is recent inquiries and AAoA. 4 Inq  From auto loan shopping over a month ago and 4 from cards

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Inquiries are not bad.  What is your AAoA?  

[Anonymous]

just find a ring at a place you want and get their financing. they'll tell you your monthly payments and you won't really go longer than a year because you won't be spending on the card anymore... with your credit card you may still make purchases and pay interest later by accident

[Anonymous]

AAoA took a major hit after March spree, less than 6months now. I Know that has an impact in things. I found some much better deals on stones and some settings I like on Blue Nile. Definitely looks like the way to go versus brick and mortar prices I've been seeing.

[Anonymous]

Just realized I hit post too quickly on my last message. I meant to give you a little be more information. My fiance and I just got engaged in March and we opened a Jared account in my name to finance part of the purchase. While I do like that the offer is 12 months same as cash, if either of us had the option of putting it on a regular credit card at the time I would have preferred that. My reasoning is that right now I have a store card on my profile with near 100% utilization until we pay it down. I know my score will bounce back as the balance decreases but seeing that 100% utl annoys me LOL. Another thing is that I don't think we will get much use out of the card going forward as we are not normally jewelry buyers so I think in essence its kind of a wasted card. So all that to say, if you have the option of using your AMEX instead and getting another useful credit card to pad your utl, go with that option. Hope that helps! :-)

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@Anonymous wrote:
AAoA took a major hit after March spree, less than 6months now. I Know that has an impact in things. I found some much better deals on stones and some settings I like on Blue Nile. Definitely looks like the way to go versus brick and mortar prices I've been seeing.

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[Jarnog]

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@Anonymous wrote:

So within the last 1 1/2 months i have spreed quite a bit. However I am now in also at a point where I want to pull the trigger on an engagement ring and found some settings and stones at Jared. 

I am curious about their requirements for financing, and chances of high SL. I am looking between $5-8000 on the ring. I could put this on my Amex ED that has a 13.5K credit line and also about a year of 0% interest left, but I dont want to affect my util that much. 

So I feel like I have a few options; apply for Jared finance, and hope for high starting limit, or use my amex and apply for the prequal venture offer I have to offset util. 

What should i do?

All scores over 720, Util less than 9% AAoA took a major hit after last spree and is less than 6 months. No Baddies, income 50K.

Amex ED: 13.5K

CSP: 5K

Freedom: 2.2K

Discover: 1K

PRG: NPSL

Barclays: 750

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First off, congrats!!!

Secondly, rewards!!  Personally, I'd agree with you about being "locked" in to one particular place.  You will use it once and then what?  Unless you are a frequent jewelry purchaser then it becomes a dormant line.  Either way you are probably looking at a small hit for virtually maxed out utilization.  One of those jewelry companies will probably give you enough to cover the cost but being $8000/10000 or $8000/135000 or whatever (high end) is high and that temporary hit will come.  Since you have the 0% on the ED for basically the same amount of time, why not take that, get the points and move forward .  You'll get the ring, you'll get the points, you'll take a small hit for the utilization, you'll have the same amount of time at 0%, and the fiance is happy! WIN WIN WIN!!! LOL

Just my thoughts

[Anonymous]

Again I appreciate all the input guys. Looks like I'll be going the Amex route and use my 0 interest. Just seems to make the most sense. Hopefully the cap 1 pre approval is solid and I get a line that will pad util.

[Anonymous]

Just an update, applied for venture, instant approval for 16k! My highest limit card and will pad my until nicely. I almost wanna put my ring through it for the sign up bonus and transfer to the Amex for interest.

[Anonymous]

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@Anonymous wrote:
Just an update, applied for venture, instant approval for 16k! My highest limit card and will pad my until nicely. I almost wanna put my ring through it for the sign up bonus and transfer to the Amex for interest.

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Yess... You did it!!!! Good job and congrats.

[orestrus]

Be prepared for Amex FR is you put thhat ring on them