topic Re: high CL low intro APR card? in Credit Cards

high CL low intro APR card?

Anonymous — Mon, 20 Dec 2010 02:21:44 GMT

Hi,

I am looking to purchase an engagement ring soon and I was thinking about getting a new CC with a high limit and low intro APR (preferably 0%) to finance it.

I am looking at nationwide since they generally give large initial CLs and they have a 0% intro APR for 12 months, other options might be Penfed promise, PSECU Visa, and another CITI (I have the Forward already).

Scores in the low 700s and can bring the utilization down to 0% if needed. AAOA is 1 year and oldest account is 2 years and 2 months. 11 revolving accounts and 1 car loan in good standing. No baddies. Small to moderate number of inquiries (least on EQ).

I am not sure what the minimum requirements for Nationwide are, I've seen 2 years and 3 years credit history mentioned on this forum, and I know the minimum score is 690.

If anyone has any suggestion on the best way to finance my ring please let me know. I am not gonna buy it from Kay, Jared or Crown Jewlers because I might as well just flush my money down the toilet so their CL is not an option.

Thank you in advance

Re: high CL low intro APR card?

Anonymous — Mon, 20 Dec 2010 02:50:20 GMT

@Anonymous wrote:
Hi,

I am looking to purchase an engagement ring soon and I was thinking about getting a new CC with a high limit and low intro APR (preferably 0%) to finance it.
I am looking at nationwide since they generally give large initial CLs and they have a 0% intro APR for 12 months, other options might be Penfed promise, PSECU Visa, and another CITI (I have the Forward already).
Scores in the low 700s and can bring the utilization down to 0% if needed. AAOA is 1 year and oldest account is 2 years and 2 months. 11 revolving accounts and 1 car loan in good standing. No baddies. Small to moderate number of inquiries (least on EQ).

I am not sure what the minimum requirements for Nationwide are, I've seen 2 years and 3 years credit history mentioned on this forum, and I know the minimum score is 690.

If anyone has any suggestion on the best way to finance my ring please let me know. I am not gonna buy it from Kay, Jared or Crown Jewlers because I might as well just flush my money down the toilet so their CL is not an option.

Thank you in advance

Do you have Private Jewelers where you live? What I mean the ones that aren't chain stores like Kay, Jared, etc etc...

Many of the Private Jewelers are offering 0% for 24 months now through the holidays for their financing. Where I live we have several that are offering 0% financing for 24 months and no TAX if qualified. While even offering guaranteed upgrades for life with-out losing 1 cent on original purchase (buy 1 carat now and decide to upgrade to 2 carats only pay the difference from original purchase as example). Free unlimited cleaning, free unlimited adjustments, free unlimited prong repairs if needed, free unlimited maintenance. They even guarantee that if you find a diamond same quality and size for up to 2 years they will refund the difference plus 10% if it is cheaper.

No sales pressure as none of the sales associates are on commission. They also will work on price fairly easy to help you and your budget with-in reason.

I do not know if where you live they offer the same options but it may be worth looking into.

Re: high CL low intro APR card?

Anonymous — Wed, 22 Dec 2010 11:31:55 GMT

Well the problem with the jewler's financing is that it's useless after I finish this transaction as their APR is like 29.99% (It's almost always through a third party like Wells Fargo). It might also be reported as a consumers finance account to my CR or might appear maxed out which I am trying to avoid, and if I can't finish paying it off in the intro period I will be stuck with the 29.99% APR.

Plus we do have local jewlers here but they don't have a good selection of diamonds and their profit margins are rediculous compared to reputable online dealers. Basically I am buying my ring online using a CC and I am looking for a high limit card with a 0 to low intro APR to do it.

Thanks for the input though, any other suggestions?

Re: high CL low intro APR card?

ArisGreek — Wed, 22 Dec 2010 14:03:47 GMT

Ferrari,

I just got a mailing for a Chase Freedom. They were offering me 0% interest until December 2012 on new purchases and balance transfers. Not sure what kind of credit lines they give, though.