topic Re: Amazon Equal Payments in General Credit Topics

Amazon Equal Payments

Anonymous — Fri, 31 Jan 2020 14:06:46 GMT

Hi,

There is an item on sale at Amazon for $249 and they offer equal payments no interest over 6 months. Payments would be like 42$ a month. From what I can tell the full amount is charged at the time of purchase. Those payments appear in the monthly statement as the minimum due. My concern is a have a low CL $400. My question is how this is reported to the credit agency. I do not want to hurt my score. Do they report the full amount of the purchase? That would make my utilization really high at 67% Or do they just report the monthly equal payment amount the $42 which keeps me at 11%

I am confused...lol

Re: Amazon Equal Payments

M_Smart007 — Fri, 31 Jan 2020 18:22:54 GMT

@Anonymous wrote:
Hi,

There is an item on sale at Amazon for $249 and they offer equal payments no interest over 6 months. Payments would be like 42$ a month. From what I can tell the full amount is charged at the time of purchase. Those payments appear in the monthly statement as the minimum due. My concern is a have a low CL $400. My question is how this is reported to the credit agency. I do not want to hurt my score. Do they report the full amount of the purchase? That would make my utilization really high at 67% Or do they just report the monthly equal payment amount the $42 which keeps me at 11%

I am confused...lol

Sorry, They will report the full amount.

Have you tried to call the # on the back of your card, explain to them what you are wanting to do,

ask if they could increase your credit limit? It is a soft pull and won't hurt your credit.

If they give you an option, ask for a high amount, they will counter you if they won't grant the whole enchilada.

Re: Amazon Equal Payments

Anonymous — Fri, 31 Jan 2020 18:44:55 GMT

I just got the card two months ago. Doubt they will give me a CLI.

Thankfully when I saw that offer I put the breaks on and was thinking how it would effect my UTI on that card. Not worth taking the ding in points for having a high utilization on that purchase. I will wait and continue to build my credit with them.

Re: Amazon Equal Payments

blindambition — Fri, 31 Jan 2020 19:45:16 GMT

I'm not sure if you have store card, or Chase Amazon. Both charge full amount.
My Chase has 2 boxes. One with minimum amount. This includes your normal monthly along with equal pay amount.
The second box shows amount to pay if other purchases during month. So you don't incur interest charges.
Store card may be SP for CLI, but Chase will be an HP. Store card might be willing to bump SL. Chase usually likes more history before CLI.
@Anonymous wrote:
Hi,

There is an item on sale at Amazon for $249 and they offer equal payments no interest over 6 months. Payments would be like 42$ a month. From what I can tell the full amount is charged at the time of purchase. Those payments appear in the monthly statement as the minimum due. My concern is a have a low CL $400. My question is how this is reported to the credit agency. I do not want to hurt my score. Do they report the full amount of the purchase? That would make my utilization really high at 67% Or do they just report the monthly equal payment amount the $42 which keeps me at 11%

I am confused...lol

Re: Amazon Equal Payments

M_Smart007 — Fri, 31 Jan 2020 21:29:40 GMT

I am guessing it is a store card with a $400 CL