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New Contributor
beachbum33
Posts: 68
Registered: ‎07-14-2010
0

Any Red Flags for a Single Purchase

I was just approved for the Barclay's Rewards and wanted to take advantage of the 0% for 6 months, is it ok to make a single large purchase($1200) on the card ( $2000 limit) and pay down the balance during the 6 month period??? Not applying for anything else during this period.

Epic Contributor
Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
0

Re: Any Red Flags for a Single Purchase

Of course... They gave you 2k... If they don't like you using up to the 2k they can have it back and go elsewhere... Don't worry
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Valued Contributor
FinStar
Posts: 6,822
Registered: ‎10-21-2012
0

Re: Any Red Flags for a Single Purchase

Not sure about red flags but it will skyrocket your utilization on this card alone - that's if you're concerned about any score impacts.  It probably won't hurt contacting Barclays to let them know you anticipate making a large purchase of X amount so they're aware in case that any issues arise.

Valued Contributor
FinStar
Posts: 6,822
Registered: ‎10-21-2012
0

Re: Any Red Flags for a Single Purchase


Creditaddict wrote:
Of course... They gave you 2k... If they don't like you using up to the 2k they can have it back and go elsewhere... Don't worry

Not all cards work the same - especially when dealing with a brand new account.  And anecdotal experiences with Barclays points them in the quirky category.  Best practices always help in case issues arise.

New Contributor
beachbum33
Posts: 68
Registered: ‎07-14-2010
0

Re: Any Red Flags for a Single Purchase

I'm really not concerned about my score, none of my cards are over 10% now and none of them have been over 50% since starting to rebuild 3 yrs ago, I just didn't want it declined by Barclays and then have them close my account like they do for inquiries.

 

Valued Contributor
FinStar
Posts: 6,822
Registered: ‎10-21-2012
0

Re: Any Red Flags for a Single Purchase


beachbum33 wrote:

I'm really not concerned about my score, none of my cards are over 10% now and none of them have been over 50% since starting to rebuild 3 yrs ago, I just didn't want it declined by Barclays and then have them close my account like they do for inquiries.

 


No reason to be concerned whatsoever, they won't close it due to the large purchase amount.  And, they are offering the 0% promotion for a reason.  My suggestion was simply to contact them to let them know about the anticipated amount (so they can note your account) as the purchase would represent ~60% of your current CL.

Contributor
wagsk1
Posts: 99
Registered: ‎10-05-2013
0

Re: Any Red Flags for a Single Purchase

I wouldn`t worry. Wife just approved for world card with a 10k cl and we just charged a 6k vacation on it with no problem.

Valued Contributor
Luscher
Posts: 1,246
Registered: ‎03-24-2013
0

Re: Any Red Flags for a Single Purchase

I would call them and tell them that you are going to make the purchase. Since the account is so new
CHASE FREEDOM | CHASE RITZ | AMEX BCE | | BOFA REWARDS | CITI TYP | DISCOVER IT | CHASE CSP
--------$32,000-------------$25,000---------$22,700-----------$18,000------------$11,000--------$8,750----------$5,000----

FICO - TU: 780 EX: 785 EQ: 760
Valued Contributor
wHiTeSoL
Posts: 1,063
Registered: ‎07-09-2013
0

Re: Any Red Flags for a Single Purchase


Luscher wrote:
I would call them and tell them that you are going to make the purchase. Since the account is so new

Do this! My Barclay card is about 3 months old, I made a $1500 purchase on a $2500 CL and it went through just fine. The next morning @ 8am Barclay calls me about some suspicious transactions. I sleepily tell them it was me and to next time to call after 10am!


   3/12 $3500     6/12 $1200      10/12 $1500   12/12 $3400    6/13 $12000      7/13 $5000      7/13 $2500       8/13 $2000    8/13 $6000

  | CSP (AU) $12,000 | Amex PRG (AU) | United $6,000 | OCCU $12,000 | Ink Bold | GM $3,200 | DCU $7500 | Luthansa $9000 | SPG $6,000 | Citi AA Executive $11,000 | Ink Plus $5,000                                                                         | EX 2/7 697 | EQ 10/27 721 | TU 12/15 719 |


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