topic Any Red Flags for a Single Purchase in Credit Cards

Any Red Flags for a Single Purchase

Anonymous — Sat, 26 Oct 2013 21:28:22 GMT

I was just approved for the Barclay's Rewards and wanted to take advantage of the 0% for 6 months, is it ok to make a single large purchase($1200) on the card ( $2000 limit) and pay down the balance during the 6 month period??? Not applying for anything else during this period.

Re: Any Red Flags for a Single Purchase

Creditaddict — Sat, 26 Oct 2013 21:33:22 GMT

Of course... They gave you 2k... If they don't like you using up to the 2k they can have it back and go elsewhere... Don't worry

Re: Any Red Flags for a Single Purchase

FinStar — Sat, 26 Oct 2013 21:37:43 GMT

Not sure about red flags but it will skyrocket your utilization on this card alone - that's if you're concerned about any score impacts. It probably won't hurt contacting Barclays to let them know you anticipate making a large purchase of X amount so they're aware in case that any issues arise.

Re: Any Red Flags for a Single Purchase

FinStar — Sat, 26 Oct 2013 21:39:36 GMT

@Creditaddict wrote:
Of course... They gave you 2k... If they don't like you using up to the 2k they can have it back and go elsewhere... Don't worry

Not all cards work the same - especially when dealing with a brand new account. And anecdotal experiences with Barclays points them in the quirky category. Best practices always help in case issues arise.

Re: Any Red Flags for a Single Purchase

Anonymous — Sat, 26 Oct 2013 21:42:17 GMT

I'm really not concerned about my score, none of my cards are over 10% now and none of them have been over 50% since starting to rebuild 3 yrs ago, I just didn't want it declined by Barclays and then have them close my account like they do for inquiries.

Re: Any Red Flags for a Single Purchase

FinStar — Sat, 26 Oct 2013 21:48:37 GMT

@Anonymous wrote:
I'm really not concerned about my score, none of my cards are over 10% now and none of them have been over 50% since starting to rebuild 3 yrs ago, I just didn't want it declined by Barclays and then have them close my account like they do for inquiries.

No reason to be concerned whatsoever, they won't close it due to the large purchase amount. And, they are offering the 0% promotion for a reason. My suggestion was simply to contact them to let them know about the anticipated amount (so they can note your account) as the purchase would represent ~60% of your current CL.

Re: Any Red Flags for a Single Purchase

wagsk1 — Sat, 26 Oct 2013 21:59:35 GMT

I wouldn`t worry. Wife just approved for world card with a 10k cl and we just charged a 6k vacation on it with no problem.

Re: Any Red Flags for a Single Purchase

Luscher — Sun, 27 Oct 2013 04:09:16 GMT

I would call them and tell them that you are going to make the purchase. Since the account is so new

Re: Any Red Flags for a Single Purchase

wHiTeSoL — Sun, 27 Oct 2013 04:34:07 GMT

@Luscher wrote:
I would call them and tell them that you are going to make the purchase. Since the account is so new

@Anonymous this! My Barclay card is about 3 months old, I made a $1500 purchase on a $2500 CL and it went through just fine. The next morning @ 8am Barclay calls me about some suspicious transactions. I sleepily tell them it was me and to next time to call after 10am!