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This isn't a case of MS or fraud but if I ran up a large purchase on my card and then subsequently got a large refund on that card as well, could Discover take AA against me? It could potentially reach up to 90% of my overall credit limit if i try to put it all on one of my credit cards. I appreciate any advice you have for me. I have a clean file and have maintained 100% payment history with my discover card so I don't have anything that would spook them on my credit already.
TU: 743 [2 Inquiry] | EQ: 742 (FAKO) [0 Inquiry] | EX: 753 [4 Inquiries]
AAoA = 2 years, AAoOA = 3 year 1 months
What’s your overall utility? If it’s low, I’d say your probably ok. If it’s high and you suddenly maxed out an additional card, they could get spooked.
Discover is pretty solid. I put 94% utility on my card in Oct and let it report. I paid it off on the following statement and didn’t hear a peep from them.
My current utilization is 8% on my discover card and 1% on my AMEX and both are paid off. Overall utilization of 6% for my total credit. Never carried a balance on my card and always paid in full each month. I just don't want to spook Discover thats all.
TU: 743 [2 Inquiry] | EQ: 742 (FAKO) [0 Inquiry] | EX: 753 [4 Inquiries]
AAoA = 2 years, AAoOA = 3 year 1 months
I think you’ll be ok. Are you gonna let the 90% utility report or will you pay it off/have it refunded before it reports?
TU: 743 [2 Inquiry] | EQ: 742 (FAKO) [0 Inquiry] | EX: 753 [4 Inquiries]
AAoA = 2 years, AAoOA = 3 year 1 months
@luxlight wrote:
Large purchase then return but i don’t plan on letting it report on statement
What do you mean by, "don't plan on letting it report?" Are you going to buy something else large?
It just depends on the card issuer. Some issuers will send out a refund check if the credit exceeds a certain amount.
But, it definitely falls under suspicious activity, even if unintentional; because making a large purchase and then obtaining a refund can be considered a form of money laundering.
Best thing to do is probably charge some other things to get rid of the credit, or greatly reduce it, before the statement cuts. You don't want to get into a habit of receiving refund checks. That's the kind of thing that can lead to adverse action.
The thing issuers are going to be most sensitive about is if the original purchase was (apparently) to meet a SUB, and once that had been received, the item was returned for credit. These days, most issuers will attempt to claw back the SUB (which can be hard if it has been transferred etc). But it sounds like this might not apply in your case.
Basically anything unusual (as defined by the issuer) COULD be grounds for AA, but I don't think doing it once, outside the SUB situation, is going to cause much concern. These things happen in good faith (expensive item needs to be returned) just don't establish a pattern of doing it.
@trusty wrote:
@luxlight wrote:
Large purchase then return but i don’t plan on letting it report on statementWhat do you mean by, "don't plan on letting it report?" Are you going to buy something else large?
The CC issuer can see everything, it does not need to report on the statement to be an item of concern
But, it definitely falls under suspicious activity, even if unintentional; because making a large purchase and then obtaining a refund can be considered a form of money laundering.
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