Apple Barclay Card - Financing a Large Purchase

[Anonymous]

So I applied for the Apple Barclay card and got approved for $2k in credit. Less than I was hoping for, but I've heard they can be a little stingy sometimes.

The thing is, I'm in college and the computer I need for the type of work I do is $2,000... this would eat up the entire limit on the card. If I don't use it within the first month though, I lose the 18-month no interest financing. I have in total, about $20k in credit ranging from $1k-$10k on each card, and zero balance. I don't really need to apply for anything that would involve credit checks in the next few months, and I'll receive student loans again for the Fall semester which I can use to start paying down the card (computer purchases are considered acceptable according to FAFSA). I should mention too, I've been using the same computer since 2009 so this isn't some sort of haphazard purchase, my computer very old and starting to become unreliable.

At this point it probably sounds like I'm trying to convince myself... but I'm generally wondering what you guys would do in my situation.

[Viva-LV]

I would tread lightly with your new Barclays card (congrats!).  No sense maxing it out to 100% utilization: that's raising a red flag!  Any other means of financing the computer? I would look....too many posts about Barclays being volatile.  You might try calling in, and raising your sl for the purchase.  Worth a shot. Good luck, and welcome!

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@Anonymous wrote:

So I applied for the Apple Barclay card and got approved for $2k in credit. Less than I was hoping for, but I've heard they can be a little stingy sometimes.

The thing is, I'm in college and the computer I need for the type of work I do is $2,000... this would eat up the entire limit on the card. If I don't use it within the first month though, I lose the 18-month no interest financing. I have in total, about $20k in credit ranging from $1k-$10k on each card, and zero balance. I don't really need to apply for anything that would involve credit checks in the next few months, and I'll receive student loans again for the Fall semester which I can use to start paying down the card (computer purchases are considered acceptable according to FAFSA). I should mention too, I've been using the same computer since 2009 so this isn't some sort of haphazard purchase, my computer very old and starting to become unreliable.

At this point it probably sounds like I'm trying to convince myself... but I'm generally wondering what you guys would do in my situation.

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[Schwartzinator]

You could try getting PayPal credit and purchasing through Best Buy. 

[DeeBee78]

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@Anonymous wrote:

So I applied for the Apple Barclay card and got approved for $2k in credit. Less than I was hoping for, but I've heard they can be a little stingy sometimes.

The thing is, I'm in college and the computer I need for the type of work I do is $2,000... this would eat up the entire limit on the card. If I don't use it within the first month though, I lose the 18-month no interest financing. I have in total, about $20k in credit ranging from $1k-$10k on each card, and zero balance. I don't really need to apply for anything that would involve credit checks in the next few months, and I'll receive student loans again for the Fall semester which I can use to start paying down the card (computer purchases are considered acceptable according to FAFSA). I should mention too, I've been using the same computer since 2009 so this isn't some sort of haphazard purchase, my computer very old and starting to become unreliable.

At this point it probably sounds like I'm trying to convince myself... but I'm generally wondering what you guys would do in my situation.

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Barclays recon can increase your starting limit. Just tell them that you want to purchase a Mac Pro, and the $2,000 limit isn't going to work for you. 

[Anonymous]

I was in a similar position as yours previously. I would call them for a cli but if that doesn't work, max that thing out and pay it off. If you have nothing to finance with for the next few months, you will be alright. Just don't be alarmed if your credit takes a temporarily hit but in due time, that thing will jump right back up if you pay it off lol. 

[Anonymous]

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@Anonymous wrote:

I was in a similar position as yours previously. I would call them for a cli but if that doesn't work, max that thing out and pay it off. If you have nothing to finance with for the next few months, you will be alright. Just don't be alarmed if your credit takes a temporarily hit but in due time, that thing will jump right back up if you pay it off lol. 

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That was sort of my thought. I know negative effects from balances have no memory month-to-month (so as soon as I pay it off I'm kosher), and I don't need to aply for any sort of credit within the next 6 months. I will give them a call and see if it's possible to get an increase to mitigate my utilization, since I definitely would prefer not to max out the card.

I told them in the application I needed $1,500-$2000 of purchasing power, but I didn't think they'd offer me credit so close to that number. Admittely, I am a student so my income does play a factor in the amount of credit I'm usually offered. Capital One did gave me $10k recently, but I've been a customer of theirs for a while now.

[Anonymous]

I would not max out that card unless you are able to pay if off quickly. I also have this Barclays card. Only purpose if th financing and rewards for iTunes giftcard. I agree with others on this post to consider paying outright or using another account.

If this were me I would first look into the Apple refurbished options. I find items on their exactly what I am looking for for like 30% cheaper. My iPad and iPod craped out last year. I got both the newest edition directly from Apple for like 550$ instead of the over 1K I would have purchasing brand new. You might even find a better product for less price. You still get all the Apple warranties etc on items. I wont purchase an Apple product brand new again after finding this site last year. I have no issues. The site is updated daily with their refurbished inventory so hold off purchasing and keep checking items they have listed.

LINK: https://www.apple.com/shop/browse/home/specialdeals/mac

[Anonymous]

Have you attempted to ask for a CLI? I received a Barclay Rewards CC for 2.5k in Feb this year. This month I asked for CLI of 2.5k. It did result in a hardpull (Transunion) but I received an email an hour later granting the requested CLI. I'm assuming if you shoot hight they will counter with their own offer. 

[Anonymous]

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@Anonymous wrote:

I would not max out that card unless you are able to pay if off quickly. I also have this Barclays card. Only purpose if th financing and rewards for iTunes giftcard. I agree with others on this post to consider paying outright or using another account.

If this were me I would first look into the Apple refurbished options. I find items on their exactly what I am looking for for like 30% cheaper. My iPad and iPod craped out last year. I got both the newest edition directly from Apple for like 550$ instead of the over 1K I would have purchasing brand new. You might even find a better product for less price. You still get all the Apple warranties etc on items. I wont purchase an Apple product brand new again after finding this site last year. I have no issues. The site is updated daily with their refurbished inventory so hold off purchasing and keep checking items they have listed.

LINK: https://www.apple.com/shop/browse/home/specialdeals/mac

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Thanks for the tip, but the $2k I was talking about was for a Refurb anyway. The only reason I'm doing it is for Financing as well. 18-months is a pretty nice term limit.

[Anonymous]

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@Anonymous wrote:

Have you attempted to ask for a CLI? I received a Barclay Rewards CC for 2.5k in Feb this year. This month I asked for CLI of 2.5k. It did result in a hardpull (Transunion) but I received an email an hour later granting the requested CLI. I'm assuming if you shoot hight they will counter with their own offer. 

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They just pulled my report a few days ago, so I'm hoping there won't be another pull and they can just use the data they have.