Advice Needed Prequal Lenovo $2200 d/c 1/17/2020 sh/I I payback Amexp

[Fancyname]

Hi there,

Ch7 d/c 1/17/2020 (this is what credit report says but this was the file date. So is it the d/c date. I thought it was 7/2020) 

I currently have with 0% financing with Capital One

Savor one $2000

Venture one $1000

Credit one platinum $400 (accidentally applied I thought it was capital one)

---what will happen if I close this?

DCU Platinum $8000 9.5%

I'm also prequal for DCU personal loan for 10% interest. 

Pre-qualified for LENOVO $2250 0% for 12 months. Afterwards, it's 29.99% and this card doesn't have any other perks. 

My laptop died and I need a new one, should I look for a 0% card or get a personal loan? 

Also, I burned Amex for $1350, should I pay them back? 

Thank you in advance!

[RSX]

i would close the CreditOne card

and take the prequal for the Lenovo at 0%

after a year, if the Lenova proves to be useless, you can close it - or keep it open and see if it can be used for anything monthly

[RSX]

yes i think you should pay Amex back in full

[Fancyname]

Thank you RSX,

do you think I'll take a big hit when I close credit one? It's about two weeks old. 

[RSX]

you will take a hit for the Inq and for a new account whether you keep it open or close it

so the points are already gone

normally i suggest keeping an acct open for 1 year, so you don't irritate the Lender

but in this case, since you don't want CreditOne going forward anyway, then it is a non issue

just close it, so you don't pay any fees or have to keep track of it

[jmw1]

0% teaser rates on closed loop accounts like Lenovo and Dell will retroactively change high interest rates backdated to date of purchase if you don't fully pay off the balance by the end of the teaser rate period.  The interest is only deferred, not 0%. It's only "forgiven", thus 0%, if you pay the entire balance in full prior to rate expiration. 

Dell Financial has a 0% deferred interest for new cardholders too.

You should pay cash for the laptop rather than finance it. It's only been a year since filing BK and you already need to finance something? If you can afford to pay Amex $1350 (which I would never do), you should use the money to buy the laptop instead with that cash.

[Fancyname]

Very valid points Jmw1. Thank you!

[FireMedic1]

---

@Fancyname wrote:

Hi there,

Ch7 d/c 1/17/2020 (this is what credit report says but this was the file date. So is it the d/c date. I thought it was 7/2020) 

Everything goes by the file date not the DC date.

I currently have with 0% financing with Capital One

Savor one $2000

Venture one $1000

Your cards probably have a 0%APR for being new. Not financing.

Credit one platinum $400 (accidentally applied I thought it was capital one)

---what will happen if I close this? Bye

DCU Platinum $8000 9.5%

I'm also prequal for DCU personal loan for 10% interest. 

Pre-qualified for LENOVO $2250 0% for 12 months. Afterwards, it's 29.99% and this card doesn't have any other perks. 

My laptop died and I need a new one, should I look for a 0% card or get a personal loan? 

Also, I burned Amex for $1350, should I pay them back? 

Thank you in advance!

---

Why go and get all these hits to your profile as in a new account which resets your AoYA, lowering your AAoA's, ect for a laptop. You got 8g's on your DCU Platinum. Put it on there. The personal loan is 10% the card is 9.5%. You get it and pay it off and where's the remaining credit after its paid? Gonzo if you finance it.

[Fancyname]

Thanks firemedic, I meant to say the capital one cards are 0% for being new for 15 months. 

D'uh! Doh! to everything else you said. This is why I came here first. 😆

What does Gonzo mean? 

I am going to see if I can fix the laptop and keep building my savings. 

Still debating on paying back Amex. I would do it to be eligible for their cards in the future. 

---

@FireMedic1 wrote:

---

@Fancyname wrote:

Hi there,

Ch7 d/c 1/17/2020 (this is what credit report says but this was the file date. So is it the d/c date. I thought it was 7/2020) 

Everything goes by the file date not the DC date.

I currently have with 0% financing with Capital One

Savor one $2000

Venture one $1000

Your cards probably have a 0%APR for being new. Not financing.

Credit one platinum $400 (accidentally applied I thought it was capital one)

---what will happen if I close this? Bye

DCU Platinum $8000 9.5%

I'm also prequal for DCU personal loan for 10% interest. 

Pre-qualified for LENOVO $2250 0% for 12 months. Afterwards, it's 29.99% and this card doesn't have any other perks. 

My laptop died and I need a new one, should I look for a 0% card or get a personal loan? 

Also, I burned Amex for $1350, should I pay them back? 

Thank you in advance!

---

Why go and get all these hits to your profile as in a new account which restes your AoYA, lowering your AAoA's,ect for a laptop. You got 8g's on your DCU Platinum. Put it on there. The personal loan is 10% the card is 9.5%. You get it and pay it off and where's the remaining credit after its paid? Gonzo if you finance it.

---

[FireMedic1]

@FancynameGonzo=gone

Dont know if you got a Windows laptop. But the new Windows 11 isnt good yet. I thought mine was done (Win10) and fried till i watched a tubby video and learned a trick to revive it while I was sitting in a ambulance at Daytona. Static. In Florida? You can get an estimate to see what it will take to repair it. Decide then. Good thinking on the savings part. If you PIF AMEX they will invite you to the Optima program for a second chance. Not many do that.