Considering a laptop purchase

IcyCool7227 · ‎01-22-2023

I want to make a purchase of $356 for a Lenovo 2 in 1 laptop on my new Capital One SavorOne card. By doing that I would definitely get the $200 welcome bonus plus no interest for almost 15 months. My first bill is due on Feb. 16. If I made that purchase it would bring the balance to $529.20. The only other card balance I have is $195 on my Amazon card. Below are my current scores and credit limits in my signature.

I don't want to use up my credit utilization ratio on that computer purchase because it might drop my score down. However both Capital One account and the $1,000 Kohls CLI haven't been reported to the CBs yet. Would it be wiser to wait? I think it takes too long to report to them. I do have enough money to pay the balance right away.

I also found that while C1 doesn't accept debit cards for their payments I can pay it via debit as a flat $1.50 fee for a money bill service at my local grocer. With the 2% SuperCash hybrid card I can get cashback covering that fee plus profit.

As of: 3/28/24:

EQ: 785 (prev. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 763 (prev. 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $1,200
- Chase Freedom Flex: $500
- Discover it Cashback: $2,000
- Kohl’s Charge: $3,000
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
- Zolve: Shows up but have not set up yet as no money has been put on the account.

FireMedic1 · ‎01-22-2023

@IcyCool7227 wrote:
I want to make a purchase of $356 for a Lenovo 2 in 1 laptop on my new Capital One SavorOne card. By doing that I would definitely get the $200 welcome bonus plus no interest for almost 15 months. My first bill is due on Feb. 16. If I made that purchase it would bring the balance to $529.20. The only other card balance I have is $195 on my Amazon card. Below are my current scores and credit limits in my signature.

I don't want to use up my credit utilization ratio on that computer purchase because it might drop my score down. However both Capital One account and the $1,000 Kohls CLI haven't been reported to the CBs yet. Would it be wiser to wait? I think it takes too long to report to them. I do have enough money to pay the balance right away.

I also found that while C1 doesn't accept debit cards for their payments I can pay it via debit as a flat $1.50 fee for a money bill service at my local grocer. With the 2% SuperCash hybrid card I can get cashback covering that fee plus profit.

Get the laptop. Get cash back. Enjoy it. Get a money order and mail it in. Paid. Laptop is $356. $200 welcome bonus. Cost $156. Win.

Shooting-For-800 · ‎01-23-2023

You score has no memory.

If your score dips, it will rise as you pay your balances down.

GL!

Rebuild started in 2014 - $100k unsecured credit in 2017 - $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

mgood · ‎01-24-2023

@Shooting-For-800 wrote:
You score has no memory.

Other than maybe FICO 10T, which I'm still not sure how it works. But I don't know of any lenders actually using it yet, so I don't worry about it too much.

$17,500 Chase Sapphire Preferred Visa Signature 01/23

$17,500 Chase Amazon Prime Rewards Visa Signature 05/23

$12,000 Chase Freedom Flex World Elite Mastercard 05/21

$17,500 PenFed Power Cash Rewards Visa Signature 01/21

$15,000 PenFed Platinum Rewards Visa Signature 01/21

$25,000 FNBO Evergreen Rewards Visa Signature 01/22

$22,000 Wells Fargo Autograph Visa Signature 10/21

$10,000 US Bank Cash+ Visa Signature 03/23

$7,000 US Bank Shopper Cash Rewards Visa Signature 12/23

$13,900 Citi Custom Cash World Elite Mastercard 07/22

$5,850 Capital One SavorOne World Elite Mastercard 11/15

$4,300 Capital One Cabela's World Mastercard 10/15

$4,000 Eddie Bauer (Comenity Bank) 05/16

$1,000 American Express Blue Cash Preferred 04/24

Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 778, TU8 766, EX8 770 as of April 17
Goal Score: EQ8 780, TU8 780, EX8 780
Take the myFICO Fitness Challenge

AZE4 - 2% Utl - New Accts: 3/6, 4/12, 7/24

SouthJamaica · ‎01-24-2023

@IcyCool7227 wrote:
I want to make a purchase of $356 for a Lenovo 2 in 1 laptop on my new Capital One SavorOne card. By doing that I would definitely get the $200 welcome bonus plus no interest for almost 15 months. My first bill is due on Feb. 16. If I made that purchase it would bring the balance to $529.20. The only other card balance I have is $195 on my Amazon card. Below are my current scores and credit limits in my signature.

I don't want to use up my credit utilization ratio on that computer purchase because it might drop my score down. However both Capital One account and the $1,000 Kohls CLI haven't been reported to the CBs yet. Would it be wiser to wait? I think it takes too long to report to them. I do have enough money to pay the balance right away.

I also found that while C1 doesn't accept debit cards for their payments I can pay it via debit as a flat $1.50 fee for a money bill service at my local grocer. With the 2% SuperCash hybrid card I can get cashback covering that fee plus profit.

I think you should definitely go ahead and use the Savor One, and then just pay something towards the bill before the statement date. If you report a balance of $250 or less you'll be fine.

BTW I had two different $1000 + Dell laptops, neither of which was any good for me. Then I got a little Lenovo for less than $400 and it was perfect.