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Barclay Card Financing

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dtran14
Valued Member

Barclay Card Financing

Was searching around apple's website and found a mac I really like and just went ahead and did the financing and was approved for $1700 and made my first purchase of $1400. Now some silly questions it says if I pay in full within 18 months I won't be charged interest so does that mean if I pay $100 monthly without spending it anymore and take 14 months to pay it off there is no interest added? And is this bad that I'm almost maxed?..

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3 REPLIES 3
improvingmycredit
Valued Contributor

Re: Barclay Card Financing

Hey!
That's right. If you pay off the card before the 18 months is up- there will be no finance charges.
As far as maxing out the card- it's probably not helping your score but as long as you pay down the balance and have no more credit needs- you will be fine.
I hope this helps. As a rule of thumb, it's never a good idea to max out a card but it is the reason you got this card and it will help build a good relationship with Barclays. Enjoy your new Mac!

Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

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Message 2 of 4
djc1puno
Valued Contributor

Re: Barclay Card Financing


@improvingmycredit wrote:
Hey!
That's right. If you pay off the card before the 18 months is up- there will be no finance charges.
As far as maxing out the card- it's probably not helping your score but as long as you pay down the balance and have no more credit needs- you will be fine.
I hope this helps. As a rule of thumb, it's never a good idea to max out a card but it is the reason you got this card and it will help build a good relationship with Barclays. Enjoy your new Mac!

+1...congrats Smiley Happy



GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Message 3 of 4
enharu
Super Contributor

Re: Barclay Card Financing

Maxing out your card or just having high balances in general does not matter as long as you are not planning to apply for more credit.

However, do avoid maxing out more than 1 card or have high utilization across all your cards.
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