topic Would this work? in Credit Cards

Would this work?

TheFate — Mon, 23 Jun 2014 04:08:16 GMT

I have a GE Jewelry credit card and in order to qualify for the no interest for 12 months promo you need a min charge of $1,000. The item I'm purchasing is 1,300 but my CL is only $3,100 so to stay in the Util range I dont really want to charge more than $620.

Would I be able to charge the whole thing on the card than 2 days later pay to bring down the balance to $620? Or would it still show up on my credit report as the intial charge? Or even worst GE cancel my no interest promo?

Re: Would this work?

Closingracer99 — Mon, 23 Jun 2014 12:29:30 GMT

@TheFate wrote:
I have a GE Jewelry credit card and in order to qualify for the no interest for 12 months promo you need a min charge of $1,000. The item I'm purchasing is 1,300 but my CL is only $3,100 so to stay in the Util range I dont really want to charge more than $620.

Would I be able to charge the whole thing on the card than 2 days later pay to bring down the balance to $620? Or would it still show up on my credit report as the intial charge? Or even worst GE cancel my no interest promo?

As long as you pay it off or part of it before the statement cuts it will only show whats left

Re: Would this work?

TheFate — Mon, 23 Jun 2014 19:22:06 GMT

I assumed that would be the case but just wanted to be sure first

Thank you

Re: Would this work?

Closingracer99 — Mon, 23 Jun 2014 19:31:12 GMT

Unfortunately I had a $985 balance show up on my Discover with only a $1k limit one month lol

Re: Would this work?

takeshi74 — Mon, 23 Jun 2014 19:42:49 GMT

@TheFate wrote:
Would I be able to charge the whole thing on the card than 2 days later pay to bring down the balance to $620? Or would it still show up on my credit report as the intial charge?

Depends on when they report. Balances aren't reported daily. Just make sure you have time to pay the balance down before it reports.

@TheFate wrote:
Or even worst GE cancel my no interest promo?

Assuming the minimum charge is the only requirement (refer to your terms to verify) there's no reason they would. Paying down the balance doesn't reduce the charge.

@Closingracer99 wrote:
Unfortunately I had a $985 balance show up on my Discover with only a $1k limit one month lol

It's really no big deal. You can adjust your utilization for the next cycle.

Re: Would this work?

TheFate — Mon, 23 Jun 2014 23:52:45 GMT

I was planning on bringing the balance down the very next day.

The first time I used the card I didn't know about Uti and maxed it out, once I saw my credit score drop so much I did research then brought the balance down to 20% then spreaded the payment across the full promo period which seemed to of really helped my credit.