topic Re: New House--- need card for appliance purchases..... in Credit Cards

New House--- need card for appliance purchases.....

Anonymous — Sat, 16 Apr 2016 14:41:03 GMT

Hi guys, so looks like we'll be closing and have to make some expenditures on new appliances soon.

I want to apply for and get a card with a pretty high balance (like 8000), and am wondering which one I should target. I've got three cards currently and I've been using them to raise my scores by loweirng overall utilization. I have a Cap One Quicksilver with a 3K limit (that is with a new CLI from $1 to $3K), a local credit union card with a $500 limit, and a Predator One (opps, Credit One) card with a $500 balance.

I have zero dollar balance on the two toy cards, and an $82 balance on teh Cap One card.

My current Fico scores are all hovering around 675. With the new mortgage, they'll prob. be affected one way or the other..... unsure.

But in any event, if someone has a suggestion for me on a new card that will help me along with appliances and also building, that would be great. Once I get this magical new card, I'll get rid of the Credit One card.

Thanks!

Re: New House--- need card for appliance purchases.....

Bankrupt2019 — Sat, 16 Apr 2016 14:44:40 GMT

I assume you mean a card with a high limit, not a high balance. Do you have a Lowes home improvement store where you are? If so that's the card you're going to want. The are pretty generous with their limits and have great financing offers.

Re: New House--- need card for appliance purchases.....

Anonymous — Sat, 16 Apr 2016 15:19:32 GMT

I second the Lowe's suggestion. Hubby got approved at around 660 for 600. I immediately went on chat and got it raised to 6000. A few weeks later got it raised to 10000

Re: New House--- need card for appliance purchases.....

_NERD — Sat, 16 Apr 2016 16:23:04 GMT

OP wants a card with a high balance. Let the OP have a card with a high balance (=

Re: New House--- need card for appliance purchases.....

Anonymous — Sat, 16 Apr 2016 16:27:22 GMT

Of course I meant high CL! Doh!

I'd like a card that's notnties to one store....so I've got shopping options. I'm limited by a lowes card to what Lowes sells....any other ideas?

Re: New House--- need card for appliance purchases.....

RobertEG — Sat, 16 Apr 2016 16:51:01 GMT

Do or will you have equity in the property once you settle?

An option is to obtain a HLOC secured by the equity in the property, which is a revolving line of credit at a much lower APR and potentially higher credit limit up to the amount of your equity in the property.

Re: New House--- need card for appliance purchases.....

Anonymous — Sat, 16 Apr 2016 18:17:55 GMT

We will have equity, but frankly, after the work it took to get this mortgage, I'm sort of down with mortgages. I would prefer a zero percent APR that I can pay off in a year. So, buy about 7000 on the card up front, pay it down in about 6 months. I just am not sure what the best option would be in terms of being approved for a card of this limit of spend.

Re: New House--- need card for appliance purchases.....

traveler2005 — Sat, 16 Apr 2016 18:42:33 GMT

@Anonymous wrote:
We will have equity, but frankly, after the work it took to get this mortgage, I'm sort of down with mortgages. I would prefer a zero percent APR that I can pay off in a year. So, buy about 7000 on the card up front, pay it down in about 6 months. I just am not sure what the best option would be in terms of being approved for a card of this limit of spend.

Lowes is a great card, but sometimes starting limits are low. The new blis card is available, any purchase over 199.00 is 0% interest for 6 months. I was approved for 5000 with an experian score of 685. Home depot is another possibility, I was approved for 400 then called and they increased to 4000. Lots of possibilities out there. Citi cards also offer 0% interest for the first 14 - 18 months. Discover also offers 0% interest for 6-12 months. Lots of great choices.

Re: New House--- need card for appliance purchases.....

Anonymous — Sat, 16 Apr 2016 19:05:56 GMT

@Anonymous wrote:
We will have equity, but frankly, after the work it took to get this mortgage, I'm sort of down with mortgages. I would prefer a zero percent APR that I can pay off in a year. So, buy about 7000 on the card up front, pay it down in about 6 months. I just am not sure what the best option would be in terms of being approved for a card of this limit of spend.

Lowes is a great option. Got the card in April 2015, in 6 months went from $500 to $15k, but didn't ask for increase for the first 3 months, but others have accelerated getting increases sooner. They offer different promos, so you'd have to see what is currently on offer. Know recently they had zero financing for 18 months; took advantage of the zero financing for 6 months twice (all about timing).

Re: New House--- need card for appliance purchases.....

Studio90x — Sat, 16 Apr 2016 19:32:49 GMT

What about a Sears card? They have a currenr promotion on appliances if you obtain their CC.

Home Appliances. Offer valid April 12 through April 30, 2016.

5% OFF ON APPLIANCES OVER $499+ OR NO INTEREST IF PAID IN FULL WITHIN 12 MONTHS** ON APPLIANCES(B) OVER $499+.

Offer requires the use of a qualified Sears card. Interest will be charged to your account from the purchase date, if the purchase balance is not paid in full within the promotional period or if you make a late payment. Minimum payments required.

Re: New House--- need card for appliance purchases.....

Anonymous — Sat, 16 Apr 2016 19:48:01 GMT

@Studio90x wrote:
What about a Sears card? They have a currenr promotion on appliances if you obtain their CC.

Home Appliances. Offer valid April 12 through April 30, 2016.

5% OFF ON APPLIANCES OVER $499+ OR NO INTEREST IF PAID IN FULL WITHIN 12 MONTHS** ON APPLIANCES(B) OVER $499+.

Offer requires the use of a qualified Sears card. Interest will be charged to your account from the purchase date, if the purchase balance is not paid in full within the promotional period or if you make a late payment. Minimum payments required.

Sears card is financed through Citibank like Home Depot.

Re: New House--- need card for appliance purchases.....

_NERD — Sun, 17 Apr 2016 09:45:42 GMT

Has anyone seen them new Samsung 9100 series washer & dryers? I saw them at Fry's Electronics and fell in love. The dryer is like 9+ cuft. I can climb inside it! They're super clean (pun intended).

Sorry, not hijacking. Carry on.

Re: New House--- need card for appliance purchases.....

Anonymous — Sun, 17 Apr 2016 10:17:30 GMT

Traveler-I'm going to look into the Citi and Discover cards with those extended no APR periods. I can pay the balance off in under 12 months, so those are both good options.

I'm a very particular cook. I've waited years to be able to purchase the gas range of my choice. It's a Bluestar, and they cost a lot. A general card will help me finance it ( along with conversion of the kitchen from electric to gas). I'm going to cool up a storm! And help build credit score while I'm at it....☺️

Re: New House--- need card for appliance purchases.....

Anonymous — Sun, 17 Apr 2016 14:48:21 GMT

Absolutely do NOT apply for new credit while in the mortgage process! It could derail your mortgage approval. A LO will most likely check for new credit just before closing so be careful. Ask your mortgage lender before you do anything

Re: New House--- need card for appliance purchases.....

Anonymous — Sun, 17 Apr 2016 16:05:07 GMT

Of course I won't apply for credit until after mortgage is closed! Geeez....

Re: New House--- need card for appliance purchases.....

Anonymous — Sun, 17 Apr 2016 16:23:34 GMT

I was trying to be helpful not rude as a coworker ruined her mortgage approval applying for credit. Geeez...,

Re: New House--- need card for appliance purchases.....

Bankrupt2019 — Sun, 17 Apr 2016 17:50:38 GMT

Besides your 675 scores what does your profile look like? just asking because with your present limits I'm not sure too many "prime" lenders will give you the amount of credit you're looking for in a Visa/MC scenario. My sister has a 740 fico and 3 year history with no baddies and was given a 5k limit on her new Citi card. Presumably because she has low limits on her other cards.

Re: New House--- need card for appliance purchases.....

Anonymous — Sun, 17 Apr 2016 18:14:20 GMT

Thanks for the help and input everyone. Post closing I'll see wait I can do. I'll report back. Cheers

Re: New House--- need card for appliance purchases.....

gdale6 — Sun, 17 Apr 2016 18:26:04 GMT

moving to credit card forum for better input

Re: New House--- need card for appliance purchases.....

pipeguy — Mon, 18 Apr 2016 00:03:19 GMT

As others have mentioned, Lowes AND Home Depot offer extended low or no cost financing for major purchases and projects. I just got an offer from Home Depot for 0% for 24 months on purchaes of $1995 or more (with other offers for lower purchaes and 12 or 18 months 0%). Depending on what you need, it's not too hard to hit that $2k spend and get 24 months zero percent financing (monthly payments are required).

I've used Lowes and Home Depot for their financing deals more than once - they work as advertised and both cards will bump up your starting limit by asking.