Need To Purchase A Computer While Rebuilding My Credit

[joywilli]

Hey Community,

I need to purchase a computer because my personal laptop has died.  I am rebuilding my credit because I was laid off twice within a four year period that effected my credit.  I am now gainfully employed. 

Here are my current credit scores:

TU:  665

MyFICO:  622

EXP:  629

Cr Hist: 

2 Derogatory

2 Collections - $0 bal. pd off

2 New Accts - low credit limit

4 Good Accts - closed

1 Revolving - open/current for past 7 months

Can you recommend any place that I may get approved for a card to purchase a laptop or desktop?  So far, I was considering Tiger Direct.  I would appreciate your feedback.  Thanks.

Joyce W

[llecs]

My vote would be to save and PIF. IME, I've financed 3 computers at once via Dell, and I think the interest in the end far exceeded the cost of the computer. It was one of the worst mistakes I ever made. I have since purchased via Apple w/ an Amex by PIF come statement and it was much easier and less hassle. You have 3 new accounts and you wouldn't want to add anymore if a higher score is the goal. There's also the inquiry factor too; I think it'll be multiple tries for credit before being approved.

[joywilli]

Thank you very much for your response.  Forgive me for asking about some acronynms within your message, I'm new to this so don't know them all. :-)  I'm assuming PIF is Pay In Full.  I'm lost with IME, what does that mean?  Your advice is great.  I don't have all of the money yet but I could probably pay off a computer within 2 months if I had a credit card.  I was also told that apple was better.  I am currently taking some classes so I need a laptop for assignments, etc.  I am currently using my work computer which is limited to what I can do.  By the way, I only have 2 new accounts with low credit limits so I could not put the laptop on any of those.  Again, I appreciate your advice.

[Unoriginalnj]

I'd consider best buy, especially if buying an apple because apple does not typically allow sale prices, maybe 10% discount, so pricing will be same everywhere. You can use part cash and part credit if you want. Or use 2 different cards for one purchase. Or you could apply for best buy card in store. Please note that there are 2 best buy cards: best buy store card; best buy reward zone master card. Store card may be a good chance since it's now backed by capital one. That's what I would do.

[joywilli]

Thanks very much.  I forgot about Best Buy.  I have a Capital One Card, do you think I may be denied since I already have one of their cards.  Best Buy would be good.  Thanks for  your advice.

[Unoriginalnj]

I know a lot of people with poor credit sometimes have 2 regular capital one cards while they rebuild. It's a 50/50 shot. Perhaps you could do part cash and part on one of your regular cards? Otherwise try for store card. Best buy needs business so they may be flexible and approve you.

[joywilli]

I see BestBuy online, they seem to offer a lot of good deals.  They also have a credit card application too.  Is it best to try online or go to the store or does it make a difference?

[Unoriginalnj]

Well, I'd go to store simply because if you're using two forms of payment, it's easier in person. It's really more of a personal decision I suppose. Be ready that you may not be approved for 100% of your purchase, especially since macs are expensive. Back in the day when I worked there I was able to call credit company on behalf of the customer if they were approved for less than the purchase price and usually could get them a bump so they could buy it. Also, you'll have some kind of no interest special, usually 6 months.

[joywilli]

Thank you so much for all your advice and help.  You have been very diligent with your answers and I appreciate it.  I will take everything in consideration.  Have a wonderful day!

Joyce W.

[Middleswarth]

My opinion is to skip the Apple and get a decent cheap laptop (why anyone "needs" an Apple baffles me).  You can find deals for $400-500 (check out the Dell outlet).