So I was recently approved for the Discover It Student Cash Back card with a limit of $1,500. I really want to maximize the 2% back in the first year, especially with some larger purchases. I own my own business and I have a large expense coming soon of about $2,000 and would like to put it on the card, but am a bit worried if I charge that much in the first month they might be a bit suspicious. I can break the charges up to about 3-4 different charges, but still, I know some CC companies are a bit strict about things like this. Also, I will be making the payment through PayPal, but the recipient is in the UK which may also look a bit suspicious. I was wondering if anyone had any knowledge about this, and if so how can I reduce them thinking it is suspicious?
Shadowfactor, yeah I'm not, just want that awesome cash back bonus. I know with AMEX if you spend close to your limit multiple times in the first month it might trigger a financial review. I know Discover doesn't really do those, but I have heard one story of someone who got their limit decreased because Discover thought they might be high risk.
And I've looked at some business cards, but none of them really excite me that much. Many of the good ones have annual fees and don't offer anything better than standard cards. Plus, I am not sure if I have enough revenue to be approved for one. Plus my income from my business is so irregular and fluctuations heavily from year to year.
I will probably split it up into $650 payments, so I can somewhat keep my utilization lower during the process. Thanks for the advice!
@Shadowfactor, that sounds like a pretty good deal. Is redemption different on their business cards than with their personal cards?