topic Are big first purchases frowned upon? in Credit Cards

Are big first purchases frowned upon?

Anonymous — Fri, 05 Apr 2019 19:52:53 GMT

I just bought my first house and wanted to upgrade the furnace I applied for discover and was approved for 14.5k 0 apr 15 months. I am looking to put the furnace (4K) on it and pay off over the 0%apr period is this something g that discover will look down or do they not care.

Re: Are big first purchases frowned upon?

CreditCuriosity — Fri, 05 Apr 2019 20:01:22 GMT

Discover can care less just make more than min. payments

Re: Are big first purchases frowned upon?

xaximus — Fri, 05 Apr 2019 20:06:12 GMT

Discover likes to see lots of usage, they like to be the daily driver. Large or small purchases, it's the same. As long as you make payments on time and bring the balance down prior to your 15 month promotion, you should be fine. It's possible to even get CLI's depending on your usage.

Re: Are big first purchases frowned upon?

CreditInspired — Fri, 05 Apr 2019 20:10:07 GMT

@Anonymous wrote:
I just bought my first house and wanted to upgrade the furnace I applied for discover and was approved for 14.5k 0 apr 15 months. I am looking to put the furnace (4K) on it and pay off over the 0%apr period is this something g that discover will look down or do they not care.

It will be ok. I suggest paying 285.71 a month so that the CC is paid off in 14 months (well before 0% expiration).

Oh, and congratulations on home purchase and Disco approval and nice SL.

Re: Are big first purchases frowned upon?

Anonymous — Fri, 05 Apr 2019 20:15:04 GMT

Disco doesn’t frown upon much as long as you pay. Go for it!

Re: Are big first purchases frowned upon?

Anonymous — Fri, 05 Apr 2019 20:20:45 GMT

Thanks guys I’ve only had a capital one platinum for a few years and after I closed I went I applied and approved for discover it (14.5k)citi double cash(4.7k) and American Express everyday(1k).Im trying to thicken my file and use my credit wisely.

Re: Are big first purchases frowned upon?

CreditInspired — Fri, 05 Apr 2019 20:47:38 GMT

@Anonymous wrote:
Thanks guys I’ve only had a capital one platinum for a few years and after I closed I went I applied and approved for discover it (14.5k)citi double cash(4.7k) and American Express everyday(1k).Im trying to thicken my file and use my credit wisely.

Don’t forget in 61 days to ask for a 3X CLI on your AmX ED.

Re: Are big first purchases frowned upon?

KLEXH25 — Fri, 05 Apr 2019 23:17:30 GMT

Out of curiosity OP, what was your CL before you closed the Cap1? And in what order did you apply for those next three cards? I’m curious about something.

Re: Are big first purchases frowned upon?

AverageJoesCredit — Fri, 05 Apr 2019 23:20:41 GMT

With a huge sl like that , by putting a huge purchase on it and carrying it a couple months you can be sure youll be among the Discover Elite getting those 3-5k cli increases. Youll be in 20k territory by years end imho

Re: Are big first purchases frowned upon?

Anonymous — Fri, 05 Apr 2019 23:37:36 GMT

I never closed my cap one platnium I meant closed on my mortgage. My limit is 1100 on it. I applied for citi first then discover then Amex I was denied when I applied for chase last and I stopped at that.

Re: Are big first purchases frowned upon?

DaveInAZ — Fri, 05 Apr 2019 23:41:51 GMT

Well, my only question is upgrading the furnace really a top priority as we head into the summer months? A first house usally has a bunch of stuff to upgrade.

Re: Are big first purchases frowned upon?

Anonymous — Fri, 05 Apr 2019 23:47:19 GMT

It’s 20 years old and I really don’t want it to crap out next winter, it isn’t a must but I have it budgeted in for next few years.

Re: Are big first purchases frowned upon?

pinkandgrey — Sat, 06 Apr 2019 01:15:52 GMT

That will soooo not be a problem. That’s not even that high of utilization. Congrats on the Disco and CONGRATS ON YOUR NEW HOME!!!

Re: Are big first purchases frowned upon?

mikesonthemend — Sat, 06 Apr 2019 02:35:41 GMT

Bam!

Congrats on everything! I second amortizing over 14 months, or whatever 1 month less than the zero term was.

Hope your A/C is in fine working order

Re: Are big first purchases frowned upon?

Anonymous — Sun, 07 Apr 2019 20:17:49 GMT

I'm buying a house next year. After closing, I'm going to get a couple of zero interest credit cards for the sole purpose of doing home improvements. It's interest free financing for a year. The key is paying it all off by the time the introductory period is over.

Once it's paid off, I may never even use the card again. LOL