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12k car downpayment NFCU

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creditwatcher2012
Frequent Contributor

12k car downpayment NFCU

So I recently got approved for the cash rewards 25k credit line, my card should arrive either Tommorow or Thursday, I am contemplatin purchasing another vehical @ a good interest rate. Would I be able to put a 12k downpayment on my new NFCU VisA and PIF a week later to rack up some rewards?
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L-TWT
Established Contributor

Re: 12k car downpayment NFCU


@creditwatcher2012 wrote:
@Anonymous I recently got approved for the cash rewards 25k credit line, my card should arrive either Tommorow or Thursday, I am contemplatin purchasing another vehical @ a good interest rate. Would I be able to put a 12k downpayment on my new NFCU VisA and PIF a week later to rack up some rewards?

FYI......most car dealer's will not take down payments > than 3K on a CC due towards fee's they have to pay on their end!


Message 2 of 4
enharu
Super Contributor

Re: 12k car downpayment NFCU


@L-TWT wrote:

@creditwatcher2012 wrote:
@Anonymous I recently got approved for the cash rewards 25k credit line, my card should arrive either Tommorow or Thursday, I am contemplatin purchasing another vehical @ a good interest rate. Would I be able to put a 12k downpayment on my new NFCU VisA and PIF a week later to rack up some rewards?

FYI......most car dealer's will not take down payments > than 3K on a CC due towards fee's they have to pay on their end!


+1

Depends on the car you're trying to buy, the dealer you're working with, and the negotiated price of the car.

If you have already knocked down the price of the car by a good amount, chances are they might not even let you use any credit card at all. They do factor in fees in their profit margin, so if they're willing to let you charge 12k on a card, that means you have some work to do in getting the price of the car down.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 3 of 4
visorboy1974
Valued Contributor

Re: 12k car downpayment NFCU


@L-TWT wrote:

@creditwatcher2012 wrote:
@Anonymous I recently got approved for the cash rewards 25k credit line, my card should arrive either Tommorow or Thursday, I am contemplatin purchasing another vehical @ a good interest rate. Would I be able to put a 12k downpayment on my new NFCU VisA and PIF a week later to rack up some rewards?

FYI......most car dealer's will not take down payments > than 3K on a CC due towards fee's they have to pay on their end!


+1  I asked my dealer when I bought my car last year and he said no more than $5K.  $12K may be a bit of a stretch.  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
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