topic Re: Post home closing purchases - best CC? Ideas? in Credit Cards

Post home closing purchases - best CC? Ideas?

Cubist — Tue, 02 Jul 2013 19:56:24 GMT

I should be closing on my first home in the next two weeks & I'm going to need to purchase a new washer/ dryer set. I'm looking for opinions on a good card to make home purchases on what would give me a decent CL upfront.

I will NOT be applying for anything until the closing is done & the loan is funded.

My credit scores are around 700 (EQ a little lower- 675 maybe due to a judgment that is reporting as recently paid)

I have:

Cap One secured card with a $200 limit

Barclay Apple financing Visa $1200 limit

Old Navy card $300 limit

No car loan, student loans, or other debt.

I'm guessing that my washer & dryer purchase will be around $2500-$2800. We will need a few odd ball things for the yard too Maybe $3500-$4000 CL would be an ideal starting limit. I'd like something that could grow with me too, as once the washer & dryer is paid for I'm sure a project will follow. I have heard Lowes is good with their CLI and I've been getting offers in the mail for Citi Simplicity which appears to offer 0% for 18 months. That sounds nice too. I assume that getting a higher CL might be easier if I were in the store applying for the card with a purchase already ready to go. I'd rather have a good card that I could use anywhere though if I had the choice. I don't want to waste a HP for a $500 limit either. What exactly is the key to higher CLs? Is it usage on existing cards, income level? I do not charge much on my existing accounts & always pay in full before they report except for a small balance on one of the accounts just to avoid having a 0% utilization rate.

Opinions?

Re: Post home closing purchases - best CC? Ideas?

Anonymous — Tue, 02 Jul 2013 20:02:31 GMT

@Cubist wrote:
I should be closing on my first home in the next two weeks & I'm going to need to purchase a new washer/ dryer set. I'm looking for opinions on a good card to make home purchases on what would give me a decent CL upfront.

I will NOT be applying for anything until the closing is done & the loan is funded.

My credit scores are around 700 (EQ a little lower- 675 maybe due to a judgment that is reporting as recently paid)

I have:
Cap One secured card with a $200 limit
Barclay Apple financing Visa $1200 limit
Old Navy card $300 limit

No car loan, student loans, or other debt.

I'm guessing that my washer & dryer purchase will be around $2500-$2800. We will need a few odd ball things for the yard too Maybe $3500-$4000 CL would be an ideal starting limit. I'd like something that could grow with me too, as once the washer & dryer is paid for I'm sure a project will follow. I have heard Lowes is good with their CLI and I've been getting offers in the mail for Citi Simplicity which appears to offer 0% for 18 months. That sounds nice too. I assume that getting a higher CL might be easier if I were in the store applying for the card with a purchase already ready to go. I'd rather have a good card that I could use anywhere though if I had the choice. I don't want to waste a HP for a $500 limit either. What exactly is the key to higher CLs? Is it usage on existing cards, income level? I do not charge much on my existing accounts & always pay in full before they report except for a small balance on one of the accounts just to avoid having a 0% utilization rate.

Opinions?

I would go lowes since you already have a relationship with ge. Also I would go for a home depot charge because you don't have that many tradlines. I say what the hell apply online and try it out. Also ge normally will give you more if you call backdoor

Re: Post home closing purchases - best CC? Ideas?

Anonymous — Tue, 02 Jul 2013 20:22:53 GMT

I'll second Lowes. Not really sure if you need 2 home improvement cc's that a personal choice.

Edit: typo

Re: Post home closing purchases - best CC? Ideas?

Anonymous — Tue, 02 Jul 2013 20:21:02 GMT

@Anonymous wrote:
If second Lowes. Not really sure if you need 2 home improvement cc's that a personal choice.

Me personally I would do one project on both, pay them off, get a tradeline reporting, and obtain the interest free financing, and both stores carry different items. I have lowes for 24k and a Home depot 15k and a hd project loan for 35k. (loan is almost paid off from october)