New House--- need card for appliance purchases.....

[Anonymous]

Hi guys, so looks like we'll be closing and have to make some expenditures on new appliances soon.

I want to apply for and get a card with a pretty high balance (like 8000), and am wondering which one I should target.  I've got three cards currently and I've been using them to raise my scores by loweirng overall utilization.   I have a Cap One Quicksilver with a 3K limit (that is with a new CLI from $1 to $3K), a local credit union card with a $500 limit, and a Predator One (opps, Credit One) card with a $500 balance.

I have zero dollar balance on the two toy cards, and an $82 balance on teh Cap One card.

My current Fico scores are all hovering around 675.  With the new mortgage, they'll prob. be affected one way or the other..... unsure. 

But in any event, if someone has a suggestion for me on a new card that will help me along with appliances and also building, that would be great.  Once I get this magical new card, I'll get rid of the Credit One card.

Thanks!

[Bankrupt2019]

I assume you mean a card with a high limit, not a high balance. Do you have a Lowes home improvement store where you are? If so that's the card you're going to want. The are pretty generous with their limits and have great financing offers.

[Anonymous]

I second the Lowe's suggestion. Hubby got approved at around 660 for 600. I immediately went on chat and got it raised to 6000. A few weeks later got it raised to 10000

[_NERD]

OP wants a card with a high balance. Let the OP have a card with a high balance (=

[Anonymous]

Of course I meant high CL! Doh!

I'd like a card that's notnties to one store....so I've got shopping options. I'm limited by a lowes card to what Lowes sells....any other ideas?

[RobertEG]

Do or will you have equity in the property once you settle?

An option is to obtain a HLOC secured by the equity in the property, which is a revolving line of credit at a much lower APR and potentially higher credit limit up to the amount of your equity in the property.

[Anonymous]

We will have equity, but frankly, after the work it took to get this mortgage, I'm sort of down with mortgages. I would prefer a zero percent APR that I can pay off in a year. So, buy about 7000 on the card up front, pay it down in about 6 months. I just am not sure what the best option would be in terms of being approved for a card of this limit of spend.

[traveler2005]

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@Anonymous wrote:
We will have equity, but frankly, after the work it took to get this mortgage, I'm sort of down with mortgages. I would prefer a zero percent APR that I can pay off in a year. So, buy about 7000 on the card up front, pay it down in about 6 months. I just am not sure what the best option would be in terms of being approved for a card of this limit of spend.

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   Lowes is a great card, but sometimes starting limits are low. The new blis card is available, any purchase over 199.00 is 0% interest for 6 months. I was approved for 5000 with an experian score of 685. Home depot is another possibility, I was approved for 400 then called and they increased to 4000. Lots of possibilities out there. Citi cards also offer 0% interest for the first 14 - 18 months. Discover also offers 0% interest for 6-12 months.   Lots of great choices. 

[Anonymous]

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@Anonymous wrote:
We will have equity, but frankly, after the work it took to get this mortgage, I'm sort of down with mortgages. I would prefer a zero percent APR that I can pay off in a year. So, buy about 7000 on the card up front, pay it down in about 6 months. I just am not sure what the best option would be in terms of being approved for a card of this limit of spend.

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Lowes is a great option.  Got the card in April 2015, in 6 months went from $500 to $15k, but didn't ask for increase for the first 3 months, but others have accelerated getting increases sooner.  They offer different promos, so you'd have to see what is currently on offer.  Know recently they had zero financing for 18 months; took advantage of the zero financing for 6 months twice (all about timing).

[Studio90x]

What about a Sears card? They have a currenr promotion on appliances if you obtain their CC.

Home Appliances. Offer valid April 12 through April 30, 2016.

5% OFF ON APPLIANCES OVER $499+ OR NO INTEREST IF PAID IN FULL WITHIN 12 MONTHS** ON APPLIANCES(B) OVER $499+.

Offer requires the use of a qualified Sears card. Interest will be charged to your account from the purchase date, if the purchase balance is not paid in full within the promotional period or if you make a late payment. Minimum payments required.