Chase Amazon Visa balance

Technicolorblur — Tue, 26 Sep 2023 03:05:20 GMT

I'm looking for a little advice. A couple of months ago I bought a new Macbook ($1200) on Amazon and got the Chase Amazon Visa to pay for it. I chose the 12 equal payments for 12 mos. at 0% option.

Since then, I made a few small house repairs and I've added around $2000 in charges to the card. The current balance on the card is $3139.

I made a mistake at first by not reading the fine print and not completely understanding the 0% promotion- I thought it was 0% on ALL purchases for a year. I paid the minimum balance last month before reading the statement (and the interest due part) and realizing my mistake. Lesson learned.

So, obviously I want to pay the card to zero now. However, when I went to make the payment and selected 'current balance' I got a warning that I'm about to pay off my plan or loan early.

My question is should I pay the 'Interest Saving Balance' now and continue making the payments on the original Macbook purchase, or is it better to just pay it in full? I get that I'd be essentially robbing myself of 10 mos. of interest free financing, but I never needed to finance in the first place- I only applied for and used the card because it came with a $200 Amazon gift card (Prime Day deal). My scores are in the mid 700's with 100% payment history. Will 12 on-time payments to this particular installment plan weigh heavier on my scores than a zero balance now and PIF monthly (normal Amazon shopping) from here on? Thanks.

Re: Chase Amazon Visa balance

Priory_Man — Tue, 26 Sep 2023 10:48:52 GMT

Your scoring shouldn't be impacted at all unless the total amount still owed pushes your utilization score up above a threshold.

If you can pay it off now, then I would pay it. I'd rather have a card sitting at zero balance with 100% access to the full credit limit, than having to make sure that I am paying off not only what I have added to the card that month plus making sure the installment part is also taken care of.

topic Re: Chase Amazon Visa balance in Credit Cards

Chase Amazon Visa balance

Re: Chase Amazon Visa balance