I got approved for Discover IT last month with 10k CL. I plan to use it to pay for part of a vehicle purchase from a private seller. I plan to pay about $2800 through Venmo and cut her a check for the rest. I had a few questions though.
First, should I call Discover and let them know about the upcoming large charge? Was concerned that because it is a new account and I'm using an online money transfer service it may seem suspicious.
I've been wondering also about how much of the balance to let report and for how long. My plan was to pay off about a grand before my next statement cuts, on 6/4. Doing so would ensure I stay under 10% util. Then pay off the remaining $1800 the next month. I get a cost of living stipend from work in June and my wife is due for her bonus around that time as well (though as with anything, nothing is guaranteed.) Should I carry the balance for 3 months or so though to increase the chance for a CLI? I've read about the relationship between carrying balances with Discover and receiving a CLI at 3 mos.
I understand that I shouldn't base my actions on what the CC company "likes" but, since its 0% for 14 months and I'm doing it for my own potential benefit, I feel comfortable carrying the balance if it will possibly help. I also would hate to receive a CLD due such a large purchase which is why I'm wondering if I should call. I've heard of other companies doing that, but haven't seen much about Discover doing so. Any help would be much appreciated all. Thanks!
