cancel
Showing results for 
Search instead for 
Did you mean: 

Large Card Purchase Options. HELP

tag
Anonymous
Not applicable

Large Card Purchase Options. HELP

Ok, I have question, I am planning to book our vacation with Carnival on my card, around $1200. So my question is, which would be the best way to do it, currently all my cards are paid to a zero balance.I have 4 cards, so should i put the entire amount on 1 card which will max the card out and leave the others at the zero balance. Or should i spread the cost across all the cards. Trying to have the least impact on my score as possible.

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Large Card Purchase Options. HELP

Which cards are you referring to?
Message 2 of 7
OmarGB9
Community Leader
Super Contributor

Re: Large Card Purchase Options. HELP

Do you plan on revolving that balance? If not, then it honestly wouldn't matter as you could use whatever card and then PIF after it posts. Otherwise, if you plan to carry the balance, my recommendation would be to put it all on one card and nearly max/max it out but then quickly make as large of a payment as possible so as not to spook whatever lender issues said card. Also, if you go this route, try not to put it on an Amex/Chase/Barclays (these 3 seem to be known for AA if spooked).

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 3 of 7
Anonymous
Not applicable

Re: Large Card Purchase Options. HELP

I have Capital one, barclay, and first premiere. Im planning on carrying the balance for a lil while. Planning on buying a new vehicle towards the end of the month so dont want to hurt my score to much.

Message 4 of 7
OmarGB9
Community Leader
Super Contributor

Re: Large Card Purchase Options. HELP

Gotcha. Then I strongly advise you to put it on the Capital One as they don't seem to mind (and possibly even like) when you carry a balance with them.

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 5 of 7
CH-7-Mission-Accomplished
Valued Contributor

Re: Large Card Purchase Options. HELP


@Anonymous wrote:

I have Capital one, barclay, and first premiere. Im planning on carrying the balance for a lil while. Planning on buying a new vehicle towards the end of the month so dont want to hurt my score to much.


You don't want to go over 89% of your limit on one card or you will get hammered for maxing it out on FICO -- especially if you plan to buy a car later in the month.  Not sure when your cruise is, but can you defer buying the ticket until after the car loan is done?

 

If putting this on one card would put you at 90% or more, I would split the charge between two cards.  Just my opinion.

Message 6 of 7
Thomas_Thumb
Senior Contributor

Re: Large Card Purchase Options. HELP


@Anonymous wrote:

Ok, I have question, I am planning to book our vacation with Carnival on my card, around $1200. So my question is, which would be the best way to do it, currently all my cards are paid to a zero balance.I have 4 cards, so should i put the entire amount on 1 card which will max the card out and leave the others at the zero balance. Or should i spread the cost across all the cards. Trying to have the least impact on my score as possible.


Neither approach is optimal IMO.

 

I would probably use two cards, $1000 on the primary (higher CL) card - low enough to avoid max out ( 80% as a rule of thumb). The remaining $200 put any of your other cards that have a CL of ... say $400 or more.

 

Notes:

1) Best not to max out a credit card.

2) Best not to report a balance on all cards.

3) Best not to report a zero balance on all cards the same month.

4) You can always pay part/all of a balance before a statement post date to reduce amount reporting

 

Enjoy your vacation!

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.